Democrats Seek Updated Federal Financial Rules for Cannabis Business Owners With Weed Convictions

Democrats-Seek-Updated-Federal-Financial-Rules-for-Cannabis-Business-Owners-With-Weed-Convictions

Cannabis Industry Applauds
Proposed Policy Change

BY: A.J. HERRINGTON  – NOVEMBER 20, 2023

The letter seeking an end to red flag designations for cannabis business owners with previous weed-related convictions was welcomed by representatives of the regulated marijuana industry. Bri Padilla, executive director of The Chamber of Cannabis, said that “we wholeheartedly support the proposed policy changes to current Treasury Department guidance.”

“With legal cannabis markets in 38 states, it is safe to say that the guidance is not only outdated, it actively hinders the ability of cannabis licensees, especially minority-owned operators and small business owners to engage in and effectively participate in the cannabis economy,” Padilla said in a statement from the industry group to High Times. “Such a shift will be a small but critical step in rectifying the disproportionate impact on communities of color due to past cannabis-related convictions.”

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