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  • Pot Banking Bill Heads to Markup as Sponsors Eye House Floor
    Posted in In the News on March 20, 2019 | Preview rr
    Tags: Jobs & the Economy

    A bill to get cannabis industry cash off the streets and into bank accounts will get its first markup on March 26 in the House Financial Services Committee as the measure continues to pick up Republican support. The SAFE Banking Act (H.R. 1595) has 138 bipartisan co-sponsors as of March 19, with more expected to join later this week, according to a spokeswoman for Rep. Ed Perlmutter (D-Colo.), one of the original co-sponsors along with Rep. Denny Heck (D-Wash.). The pair reintroduced the bill on... Read more

  • Marijuana industry would no longer be cash-only if this bill passes. And this time, it has a better chance
    Posted in In the News on March 9, 2019 | Preview rr
    Tags: Jobs & the Economy

    U.S. Rep. Ed Perlmutter has again introduced legislation allowing marijuana businesses to use banks, removing a hindrance that has plagued Colorado businesses in the five years since marijuana legalization. “The fears that we had, that this was a public safety matter, have come to pass,” Perlmutter said. The bill has nine Republican co-sponsors. Some say their support is not an endorsement of marijuana but a realization that banking creates paper trails, improves public safety and maintains “the... Read more

  • House Members Introduce Bill to Allow Cannabis Banking
    Posted in In the News on March 8, 2019 | Preview rr
    Tags: Jobs & the Economy

    A bipartisan group on House members on Thursday introduced legislation that would provide credit unions and other financial institutions with a safe harbor from sanctions for doing business with marijuana-related businesses. Democrats Ed Perlmutter of Colorado and Denny Heck of Washington introduced H.R. 1595, which has 99 Democratic cosponsors and nine Republican cosponsors. “Only Congress can provide the certainty financial institutions need to start banking legitimate marijuana businesses – j... Read more

  • Marijuana banking bill finds broad, bipartisan support
    Posted in In the News on March 8, 2019 | Preview rr
    Tags: Jobs & the Economy

    More than 100 members of Congress have co-sponsored a bill resolving banking issues caused by conflicting federal and state marijuana laws. Offered by Democratic Rep. Ed Perlmutter, Colorado Democrat, the Secure and Fair Enforcement (SAFE) Banking Act has amassed the support of 108 co-sponsors, including nine Republicans, since being filed Thursday on Capitol Hill. Most states have legalized marijuana for medicinal or recreational purposes, but financial institutions are often reluctant to work ... Read more

  • SAFE Banking Act Introduced as Congress Looks to Address Cannabis Banking Issue
    Posted in Press Releases on March 7, 2019 | Preview rr
    Tags: Jobs & the Economy

    Washington, D.C. – On the heels of the first-ever congressional hearing on the issue of cannabis banking, H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act of 2019 was introduced today as the leading bipartisan legislation tailored to specifically address the cannabis banking issue. Authored by Reps. Ed Perlmutter (D-CO-07) and Denny Heck (D-WA-10) and cosponsored by Reps. Warren Davidson (R-OH-08) and Steve Stivers (R-OH-15), the bill allows marijuana-related businesses in states wi... Read more

  • Perlmutter, Heck introduce pot banking bill
    Posted in In the News on March 7, 2019 | Preview rr
    Tags: Jobs & the Economy

    House Democrats on Thursday introduced bipartisan legislation designed to shield lenders from federal penalties when they serve cannabis businesses in states where marijuana has been legalized. The House is expected to take up the bill by Reps. Ed Perlmutter (D-Colo.) and Denny Heck (D-Wash.) in the coming months, in what would be a landmark move to ease federal marijuana restrictions as a growing number of states permit the sale of the drug. "The majority of American voters have spoken," Perlmu... Read more

  • New Marijuana Banking Bill In Congress Has 106 Cosponsors
    Posted in In the News on March 7, 2019 | Preview rr
    Tags: Jobs & the Economy

    A bipartisan bill that would address banking issues in the marijuana industry was officially filed on Thursday. The legislation—led by by Reps. Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers (R-O) and Warren Davidson (R-OH)—would shield financial institutions from being penalized by federal regulators for servicing cannabis and cannabis-adjacent businesses. The bill, titled the Secure and Fair Enforcement (SAFE) Banking Act, explicitly stipulates that proceeds from transactions conducted... Read more

  • Mayor Hancock Asks Congress to Approve Marijuana Banking
    Posted in In the News on February 28, 2019 | Preview rr
    Tags: Jobs & the Economy

    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... Read more

  • Momentum builds for Perlmutter's pot banking bill
    Posted in In the News on February 21, 2019 | Preview rr
    Tags: Jobs & the Economy

    For six years, Rep. Ed Perlmutter, D-Colo., has pushed for legislation that would enable banks to provide financial services to legal marijuana businesses without fear of repercussions from regulators. It’s an effort he started after residents of Colorado in 2012 passed Amendment 64 to the state’s constitution, which legalized marijuana for recreational use. It was an amendment he initially didn’t support, but he realized that as more states began to legalize cannabis, the issue would pose legal... Read more

  • New Congress, new momentum for pot industry
    Posted in In the News on February 16, 2019 | Preview rr
    Tags: Jobs & the Economy

    For marijuana businesses owners, last Wednesday was historic. The House Financial Services Committee held its first-ever hearing on legislation to let cannabis businesses use the federally insured banking system just like any other industry. Because marijuana is still illegal according to federal law, commercial banks have refused to do business with those companies, fearing possible prosecution. “For too long, (cannabis) employees have been put at risk by having to deal with piles of cash while... Read more

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