Confia Stands for Equity in Cannabis Banking

Confia applauds the work of CRCC in advancing equity within the cannabis industry

Irvine, California - September 12, 2022 —

 Confia (“Confia” or the “Company”), a leading financial technology provider offering best-in-class transaction banking services, proprietary payments network, and financial compliance for the cannabis industry, announced today that the Company applauds the Cannabis Regulators of Color Coalition’s (CRCC) work in advancing equity within the cannabis industry. Confia is a trusted financial technology provider for cannabis operators across the US, offering transaction banking services, a proprietary payments network, and financial compliance for the cannabis industry. 

Confia is proud to support CRCC's efforts to promote diversity, inclusion, and most of all, equity, within the cannabis industry. The latest research by CRCC is instrumental in advocating for policies that create a level playing field for all participants in the cannabis market, and Confia is in full support of them achieving this important goal.

CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.” The amendments proposed by CRCC would take steps to ensure that people harmed most by prohibition—such as communities of color, small business owners, and patients—would have a better chance of participating in and thriving in the legal cannabis industry.

“We believe that this paper provides critical insights into how to improve upon the SAFE Banking Act so that it can have a more equitable impact on those who have been most harmed by prohibition,” said Confia’s Chief Executive Officer Mark Lozzi. “We urge all lawmakers to take these recommendations seriously as they consider this important piece of legislation.”

Lozzi added: “The war on drugs has had devastating consequences on marginalized communities across the United States. For far too long, communities of color have borne the brunt of prohibition, while white business owners have profited. It is time to redress the damage done by decades of drug policy that has been nothing more than a failure. CRCC’s amendments would help achieve this goal, and Confia urges their adoption.”

About Confia: Confia, operating as the dba for PointChain, is a financial technology platform that offers the cannabis industry transaction banking services, a payments network, lending solutions, API-powered payment capabilities, and full-service cash management. Confia’s service hosts a best-in-class compliance program, and promotes business, transactions, and trust among members within its network. To learn more, visit www.confia.io.

Contact Info:
Name: Cassandra Dowell
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Organization: CMW Media
Address: 610 W Ash Street Ste 701 San Diego, CA 92101
Phone: 858-264-6600
Website: http://www.cmwmedia.com

Release ID: 89081449

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