Even if the HEROES Act wouldn’t make cannabis companies entitled to federal assistance, it is critical because it allows cannabis business operators access to banking services thanks to its inclusion of the SAFE Banking Act. Last year, the bipartisan plan was given the green light by the House, and the industry was looking forward to being able to make use of benefits such as credit lines, accounts, and loans. SAFE would remove the penalties faced by cannabis businesses because it is still a Schedule 1 status based on the antiquated Controlled Substances Act.
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