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Marijuana banking bill gets pushback from Colorado’s Buck, Lamborn

Twelve members of the U.S. House of Representatives, including two from Colorado, are publicly pushing back against a federal bill that would give legal cannabis businesses access to banking services.

Ken Buck addresses the crowd after ...

Craig F. Walker , The Denver Post

U.S. Rep. Ken Buck in 2014 (Denver Post file)

In a Feb. 13 letter sent to Mike Crapo, chairman of the Senate Committee on Banking, Housing and Urban Affairs, Reps. Ken Buck, R-Windsor, Doug Lamborn, R-Colorado Springs, and 10 other Republican representatives applauded the chairman’s concerns about the Secure and Fair Enforcement (SAFE) Banking Act and urged him to “stand strong” in his assessment of the risks posed by allowing dispensaries, cultivations and other businesses access to the federal banking system.

“We have reservations with the unprecedented approach of allowing banking access for a Schedule I drug, in addition to increasing investment in marijuana enterprises even as they remain federally illegal,” the representatives wrote. Their primary concerns include addressing marijuana potency, impaired driving and the continued effects of the vaping crisis, they added.

The SAFE Banking Act, championed by Colorado Democratic Rep. Ed Perlmutter and Republican Sen. Cory Gardner, passed the House last September by a vote of 321-103. The 12 representatives who wrote the recent letter to Crapo voted against it. They sent the letter in response to advocates who are pushing for the Senate to vote on the legislation soon.