Cannabis Banking Legislation Gets Support From Attorneys General

May 10, 2019
Originally published on May 9, 2019 5:44 pm

Bipartisan legislation making its way through Congress would give legal cannabis companies access to the federal banking system. This week a majority of attorneys general from around the U.S. signed a letter supporting the so-called SAFE Banking Act, including in Colorado, Utah, Nevada and New Mexico.

 

Nevada Attorney General Aaron Ford said in a statement the legislation would, "enable law enforcement, tax agencies and regulators to more effectively monitor local marijuana businesses and their transactions."

 

Melissa Riedlinger would welcome the lesislation. She is the human resources manager for Kanna Reno Dispensary in Nevada. She says cannabis companies have no access to basic banking services, like writing checks to employees.

 

"It's sometimes even a struggle for them to even give us change, just because of the fact that we are a marijuana dispensary," she says.

 

Versions of the SAFE Banking Act were introduced in the Senate and the House earlier this year. Both bills were referred to their respective committees in April.

 

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Boise State Public Radio in Idaho, KUER in Salt Lake City and KRCC and KUNC in Colorado.

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