Rep. Ed Perlmutter Says Marijuana Industry Could Have Access To Banks This Year – CBS DenverPosted by On


(CBS4)Rep. Ed Perlmutter, a Democrat who represents Colorado’s 7th Congressional District, reintroduced his landmark SAFE Banking Act to give the cannabis industry access to banking services. With Democrats in control of both chambers, he could get it across finish line this year.  

(credit: iStock/Getty)

Perlmutter has fought to pass the bipartisan bill for years, but it has repeatedly stalled in the Senate. The bill provides protections from money laundering laws for any proceeds derived from marijuana businesses in states that have legalized cannabis.

READ MORE: Reward Grows To $50,000 In 2016 Murder Of Travis Mason Outside Marijuana Dispensary

Perlmutter says forcing the industry to operate in cash alone has lead to burglaries and even murders including Travis Mason in 2016. The 24-year-old was shot and killed while working as a dispensary security guard in 2016.

“The public safety need is urgent, and a public health and economic need has also emerged with the pandemic further exacerbating the cash-only problem for the industry,” said Perlmutter. “In many states, the industry was deemed essential yet forced to continue to operate in all cash, adding a significant public health risk for businesses and their workers.”

Rep. Ed Perlmutter, D-Colo., at the House steps of the U.S. Capitol during votes on Friday, Dec. 4, 2020.

Rep. Ed Perlmutter (credit: Tom Williams/CQ-Roll Call, Inc via Getty Images)

Perlmutter notes that 47 states have legalized some form of cannabis and, he says, the industry is valued at nearly $18 billion. The legislation, he says, would…

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(CBS4)Rep. Ed Perlmutter, a Democrat who represents Colorado’s 7th Congressional District, reintroduced his landmark SAFE Banking Act to give the cannabis industry access to banking services. With Democrats in control of both chambers, he could get it across finish line this year.  

(credit: iStock/Getty)

Perlmutter has fought to pass the bipartisan bill for years, but it has repeatedly stalled in the Senate. The bill provides protections from money laundering laws for any proceeds derived from marijuana businesses in states that have legalized cannabis.

READ MORE: Reward Grows To $50,000 In 2016 Murder Of Travis Mason Outside Marijuana Dispensary

Perlmutter says forcing the industry to operate in cash alone has lead to burglaries and even murders including Travis Mason in 2016. The 24-year-old was shot and killed while working as a dispensary security guard in 2016.

“The public safety need is urgent, and a public health and economic need has also emerged with the pandemic further exacerbating the cash-only problem for the industry,” said Perlmutter. “In many states, the industry was deemed essential yet forced to continue to operate in all cash, adding a significant public health risk for businesses and their workers.”

Rep. Ed Perlmutter, D-Colo., at the House steps of the U.S. Capitol during votes on Friday, Dec. 4, 2020.

Rep. Ed Perlmutter (credit: Tom Williams/CQ-Roll Call, Inc via Getty Images)

Perlmutter notes that 47 states have legalized some form of cannabis and, he says, the industry is valued at nearly $18 billion. The legislation, he says, would…



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