Will the SAFE banking law help you?


Weed dispensaries targeted by thieves: Will the SAFE Banking Act help?

A bill that could allow electronic transactions at cannabis dispensaries nationwide is making its way through Congress again, but the SAFE Banking Act may not be the panacea proponents envision.

In more than a decade of operating cannabis stores in Washington, Shea Hynes has never worried about her stores being robbed at gunpoint—until recently: in the space of three weeks, his stores were robbed three times at gunpoint.

Reports of armed robberies at cannabis dispensaries like Hynes nearly doubled in the first quarter of this year compared to all of last year, according to data maintained by the Craft Cannabis Coalition. The group, which represents more than 50 stores in Washington, has recorded more than 65 armed robberies so far this year, compared to 35 in 2021 and 29 in 2020.

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