Lakewood, Colo. – U.S. Rep. Ed Perlmutter (CO-07) released the following statement after Attorney General Jeff Sessions announced his decision to rescind the “Cole memo”, a document from the U.S. Department of Justice which provided guidance for federal enforcement of marijuana activity.
“Today’s decision by Attorney General Sessions rolls back the progress we’ve made to balance the laws of Colorado with the priorities of federal law enforcement. The Cole memo provided assurances to states like Colorado with marijuana use and a strict regulatory structure in place by allowing these states to proceed according to the will of their voters. While it did not relieve all uncertainty, especially for financial institutions, it was a step forward. Today’s announcement creates even greater uncertainty in the industry and shows a lack of respect for states’ rights.
“Congress needs to take matters into its own hands. I have been urging Congress to act on this issue since 2013, and I once again call on my colleagues to act immediately starting with passing my SAFE Banking Act which allows legitimate marijuana businesses access to banking services. Fixing the banking system will ensure a strong regulated environment for marijuana sales and continue to curtail the black market. We’ve come too far to backtrack on this issue now. It’s time to find a real solution that will keep our communities safe and respect the will of voters in the majority of states in our country.”