We are deeply disappointed that the SAFE Banking Act won’t pass this Congress despite bipartisan support and actions from legislators, peers, and advocates up until this morning to get it over the finish line.

The SAFE Banking Act is about public safety and fairness. It’s about keeping communities safe and protecting millions of patients, consumers, and cannabis employees from violence. It’s about state-legal cannabis companies having the same rights as any other business in this country.

While today is a loss, we’re more encourages by the progress we’ve seen in the last six months than in any other time in history – including executive action regarding rescheduling, pardoning and research. Cresco Labs will continue fighting for federal cannabis banking laws and other common-sense reforms that reflect the will of the people and that will create a responsible, respectable, and robust cannabis industry.

While the failure of #SAFEbanking is certainly a setback, the industry is as unified as it’s ever been, and our fight for reform continues.

Charlie Bachtell, CEO & Co-Founder, Cresco Labs