Colorado Governor Calls For Passage Of Marijuana Banking BillPosted by On

Democratic Gov. Jared Polis of Colorado and a group of state officials on Monday called on congressional leaders to pass a bill that would give regulated cannabis business access to traditional banking services. In a letter sent to party leaders of both houses of Congress, Polis and officials including the lieutenant governor and the attorney general wrote that the lack of financial services “has become a dire public safety issue for highly regulated cannabis businesses operating in compliance with state law.”

In the letter, the Colorado state leaders called on Congress to pass “the Secure and Fair Enforcement (SAFE) Banking Act of 2021 or similar federal legislation that allows licensed cannabis businesses access to banking and financial services and send it to the President’s desk for enactment.” The bill, which was originally introduced in Congress nine years ago by Democratic Rep. Ed Perlmutter of Colorado, has been passed by the House of Representatives seven times but has failed to gain the approval of the U.S. Senate. The letter was signed by Colorado Lt. Governor Dianne Primavera, state Attorney General Phil Weiser, Treasurer Dave Young and Stan Hilkey, the executive director of the Colorado Department of Public Safety.

“The bipartisan SAFE Banking Act…

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