Colorado Attorney General Leads Call for Feds to Legalize Marijuana Banking

Colorado Attorney General Phil Weiser is leading a coalition of Attorneys General calling on Congress to pass legislation allowing marijuana related businesses access to the federal banking system.

Because the drug is still federally illegal, marijuana businesses have been forced to "operate in ways that are at odds with normal business practices and are, I believe, accidents waiting to happen," Weiser said.

The coalition wants Congress to pass the Secure and Fair Enforcement Banking Act (SAFE), sponsored by Colorado Congressman Ed Perlmutter (D).

Weiser hopes the widespread bi-partisan support shifts the momentum on this issue.

"Marijuana is big business in Colorado," Weiser said. "It's giving tax revenue that's helping provide scholarships in Pueblo, mental health services in Eagle County. Our ability to collect those taxes is hindered when you cant actually use the normal banking channels."

Weiser wants the act passed by the time the current session ends in early January, 2020.

"Because we didn't do it yesterday," Weiser said. "We need to do it today and not keep deferring to tomorrow what I believe is a crucial public safety issue and a common sense issue. If we can get this law passed this session it is going to do a lot of good for a lot of people. That's why there's such a broad basis for support. That's why it's now the official policy of the National Association of Attorneys General."

 

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