Less than a week after President Biden announced he would pardon thousands of federal pot convictions, Colorado political leadership is calling on Congress to consider more reform.
Jacqueline Collinspardon thousands of federal marijuana convictionsGovernor Jared Polis, Lieutenant Governor Dianne Primavera, Attorney General Phil Weiser, Treasurer Dave Young and Colorado Department of Public Safety Executive Director Stan Hilkey sent ato congressional leaders on October 10, urging them to push through legislation that would allow financial institutions to service the pot industry.
Because of federal prohibition, marijuana-related businesses are banned from financial services, putting banks serving those businesses at risk of federal drug charges. Although some smaller banks and credit unions will take on that risk for high fees, the majority of legal marijuana transactions are still done in cash.
"The House of Representatives has now passed the bipartisan SAFE Banking Act seven times. The Senate similarly reflects a strong showing of bipartisan co-sponsors, with 31 Democrats, nine Republicans, and two Independent co-sponsors," the letter reads."We applaud and support larger efforts between the House and the Senate to address legalization and reform nationally.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Murphy won’t have to pardon N.J. weed crimes despite Biden order. Here’s why.President Joe Biden called on governors to pardon those convicted of simple marijuana possession under state laws.
Read more »
Biden's Marijuana Pardon and San Diego City Council Vote Could Shift Face of Local Cannabis IndustryA local cannabis activist says San Diego City Council is one vote away from a plan that could transform the face of the cannabis industry, benefitting those unfairly targeted by the war on drugs.
Read more »
Biden's pardon of marijuana offenses won't apply to militaryPresident Biden's pardons of simple marijuana possession charges will not apply to members of the military, who were charged under the Uniform Code of Military Justice.
Read more »
Racial equity in marijuana pardons requires states’ action - New York Amsterdam NewsBy pardoning Americans with federal convictions for marijuana possession, President Joe Biden said he aimed to partially redress decades of anti-drug laws that disproportionately harmed Black and Latino communities.
Read more »