Denver Mayor Asks Congress to Approve Marijuana BankingPosted by On

Denver Mayor Michael Hancock is continuing his pledge to support Denver’s marijuana industry, sending a public letter to the United States Congress in support of marijuana banking reform.

Because they are illegal at the federal level, marijuana businesses have an extremely hard time finding financial institutions that will offer them banking accounts, loans or other financial services upon which other industries rely. Colorado Congressman Ed Perlmutter has been pushing a marijuana banking reform bill for six years: the SAFE Banking Act, which received its first hearing earlier this month with the House Financial Services Committee. Ahead of a vote in the committee, Hancock sent a letter to the committee chairman, New York Congressman Gregory Meeks, on Wednesday, February 27, in support of the bill.

Although he wasn’t in favor of Colorado’s recreational legalization measure in 2012,…

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