In 2019, OC Weekly interviewed cannabis lawyer Chris Glew about the challenges in front of the dispensaries. Shared below are the excerpts from the interview.
Puerto Rico, DC, And Over 50% Of US States Have Somewhat Legalized Cannabis’s Use. Do Retailers Still Face The Same Banking-Related Problems?
The retailers find it difficult to discover legitimate and stable banking solutions even now. Banking institutes struggle alongside cannabis business owners when they see millions of US dollars leave. There exist several entities like Denver’s Fourth Corner Credit Union that try to serve the financial requirements of not just the marijuana industry but also its ancillary businesses. The Federal Reserve’s denial of master account access to them has presented an obstacle to them.
There is much momentum in many states, including CA, to develop public banks exclusively for the marijuana industry. That would allow more transparency to the state for regulation-related purposes and revenue generation. At a federal level, the so-called Safe Banking Act of 2019 is following its grinding path towards completion. That would keep the Federal Reserve Board from targeting US financial institutes for deciding to accept cannabis clients.
Do Any California Banks Provide A Solution?
Glew knows just some banks that offer limited access to banking solutions. He said that some member shops could access the UFCW’s credit union and the Santa Cruz Community Credit Union. Those institutions charge the stores fees to aid in offsetting the extra internal auditing criteria for the bank’s compliance purposes.
There Are Banking Challenges For The Marijuana Industry Players That Give Back To Communities Through The Services They Offer To Their Philanthropic Causes. Do Those Challenges Concern Being Charitable?
As for Glew, those industry participants have issues in discovering banking solutions, which make finding charitable partners trickier. Many of them have an unselfish attitude, which is noticeable at an industry-wide level with the Santa Ana Cannabis Association (SACA).
Besides, the industry has had much difficulty in discovering partners for philanthropic contributions. When marijuana businesses applied to US cities for the rights to make the contributions, the cities required the submission of merit-based requests. The businesses made small changes to the applications to show which form of community advantage they would offer. That benefit from the businesses could be assistance to US veterans, 100% local hiring, veteran hiring, or higher minimum wages.
What Is The Main Hurdle In The Case Of Being Philanthropic?
For example, the non-profit Delhi Center has the Boys & Girls Club, plus a backup in the form of Santa Ana Unified School District. The industry does not face ignorance or unfriendly treatment from the SAUSD, but a long discussion typically happens. While the conversation starts with the SAUSD showing gratitude to what the businesses wish to perform for it, it is still concerned with its image. Glew said that he understands it. He understands that Budweiser does not sponsor almost every school district.
Even so, Glew finds it interesting that nobody has been capable of reducing the differences that separate the industry and the SAUSD.
Now, How Does The Industry Start Getting The Required Acceptance?
As a marijuana industry participant, Glew recommended starting a marijuana education program such as anti-DUI initiatives rather than getting some press to help charities. He suggested advocating a program that speaks against driving when on a marijuana-induced high for children. The industry could educate kids about the dark aspect of marijuana’s use.
Cannabis has a few positive effects, said Glew, while implying that research has not allowed us to develop the idea that marijuana is all bad. Anyhow, he underlined the importance of recognizing the dark side of cannabis use.
There has been the Mothers Against Drunk Driving program, plus the Drug Abuse Resistance Education program. As for Glew, the industry also has to have the responsibility of completing educational programs similar to those two.
Could Starting Such A Program And Building Connections Make The Marijuana Industry Start Handling Other Charitable Causes?
Glew said that the industry is at that intersection. It does not have to be involved in youth-oriented facilities, but pushing for responsible marijuana use might even help. Why? Because that effort is possibly better for this industry. It possibly removes the bad press and negative headlines. Driving an automobile when on a cannabis high is bad for a cannabis business and society.
So, Would The Form Of Philanthropic Programs That You Are Considering Go Beyond Minors?
Glew answered the question in the affirmative, while adding that the industry should say that it prefers responsible adult use of cannabis. Ultimately, it has to consider what is doable with regards to cannabis abuse. It could help with drug counseling, which is possibly the next change of reaching out to cannabis communities.
Glew also said that the industry could be at the forefront of connecting individuals to the appropriate forms of resources. It could be the charitable leader in spending on free facilities for treatment. The fact that cannabis is possibly a way of making people stop using heavier narcotics, is among the added values of the plant. That idea is perhaps not right for every person, but it bases itself on well-known data available to the masses. There is more ongoing research to discover further points of data for marijuana to have a part in medicine, as well.
Is There A Hope That Connecting With Community Non-profit Organizations Will Be Easier For This Industry?
Tobacco smoking and alcohol misuse are regarded as vices even now. On the other hand, the average joe kind of knows that cannabis use is not as much a vice as either of those. Violence is associated with alcohol use, which has horrible side effects and is mind-altering.
Conversely, several cannabis industry participants have a holistic way of dealing with the mind and body. Yoga plays a role in the marijuana community, as do jujutsu and other athletic activities. Enough individuals entered the sector for good reasons. Several of them are well-grounded and spiritual individuals who wish to learn what is doable for them to produce positive change in the world. There exists a positive message of responsible marijuana use. With time, that message would be much more firmly fixed in an average joe’s mind, said Glew.