{"id":9090,"date":"2020-02-17T22:33:33","date_gmt":"2020-02-17T22:33:33","guid":{"rendered":"https:\/\/www.denverpost.com\/?p=3941458"},"modified":"2020-02-17T22:33:33","modified_gmt":"2020-02-17T22:33:33","slug":"marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn\/","title":{"rendered":"Marijuana banking bill gets pushback from Colorado\u2019s Buck, Lamborn"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><div class=\"media_block\"><\/div>\n<p><a href=\"https:\/\/www.denverpost.com\/2020\/02\/17\/marijuana-safe-banking-act\/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+dp-news-marijuana+%28Denver+Post%3A+News%3A+Marijuana%29&amp;utm_content=Google+UK#comments-anchor\"><span class=\"spot-im-replies-count\" data-post-id=\"3941458\" \/><\/a><\/p>\n<p>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.<\/p>\n<figure id=\"attachment_2597439\" class=\"wp-caption alignright\"><img loading=\"lazy\" class=\" lazyautosizes lazyload\" src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2020\/03\/marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn.jpg\" alt=\"Ken Buck addresses the crowd after ...\" width=\"437\" height=\"290\" data-sizes=\"auto\" data-src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2020\/03\/marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn.jpg\" data-srcset=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2020\/03\/marijuana-banking-bill-gets-pushback-from-colorados-buck-lamborn.jpg 620w,https:\/\/i0.wp.com\/www.denverpost.com\/wp-content\/uploads\/2017\/03\/cd05pelxsenate_cfw_15992.jpg?fit=310%2C9999px&amp;ssl=1 310w,https:\/\/i0.wp.com\/www.denverpost.com\/wp-content\/uploads\/2017\/03\/cd05pelxsenate_cfw_15992.jpg?fit=460%2C9999px&amp;ssl=1 460w\" \/><figcaption class=\"wp-caption-text\">\n<p>Craig F. Walker , The Denver Post<\/p>\n<p>U.S. Rep. Ken Buck in 2014 (Denver Post file)<\/figcaption><\/figure>\n<p>In a <a href=\"https:\/\/budd.house.gov\/news\/documentsingle.aspx?DocumentID=751\" target=\"_blank\" rel=\"noopener noreferrer\">Feb. 13 letter sent to Mike Crapo<\/a>, 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\u2019s concerns about the Secure and Fair Enforcement (SAFE) Banking Act and urged him to \u201cstand strong\u201d in his assessment of the risks posed by allowing dispensaries, cultivations and other businesses access to the federal banking system.<\/p>\n<p>\u201cWe 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,\u201d the representatives wrote. Their primary concerns include addressing marijuana potency, impaired driving and the continued effects of the vaping crisis, they added.<\/p>\n<p>The SAFE Banking Act, championed by Colorado Democratic Rep. Ed Perlmutter and Republican Sen. Cory Gardner, <a href=\"https:\/\/www.denverpost.com\/2019\/09\/25\/us-house-pot-business-banking\/\">passed the House last September by a vote of 321-103<\/a>. The 12 representatives who wrote the recent letter to Crapo voted against it. They sent the letter in response to <a href=\"https:\/\/www.denverpost.com\/2020\/01\/22\/safe-banking-act-representatives-letter\/\">advocates who are pushing for the Senate to vote on the legislation soon<\/a>.<\/p>\n<aside class=\"related right\" \/>\n<p>In his <a href=\"https:\/\/www.marijuanamoment.net\/key-senate-chairman-lays-out-possible-marijuana-banking-bill-changes\/\" target=\"_blank\" rel=\"noopener noreferrer\">comments<\/a> published Dec. 18, Crapo recommended adding public health and safety requirements to the legislation, such as requiring potency disclosures and a potential 2% THC limit on products before allowing banks to do business with cannabis companies, and rules for preventing \u201cbad actors\u201d from laundering money through banks.<\/p>\n<p>\u201cThe SAFE Banking Act jeopardizes public safety by legitimizing banking access for a Schedule I drug,\u201d Buck said in a statement. \u201cIt is important that we continue to tread lightly and consider public health concerns that surround the marijuana industry.\u201d<\/p>\n<p>Earlier this month, <a href=\"https:\/\/www.denverpost.com\/2020\/02\/03\/colorado-cannabis-industry-banking\/\">Colorado Gov. Jared Polis unveiled an initiative<\/a> to entice more state-chartered banks and credit unions to offer services to cannabis businesses, stating the lack of banking opportunities poses both economic and public safety threats. <a href=\"https:\/\/www.denverpost.com\/2020\/01\/20\/denver-marijuana-burglaries-increase\/\">Burglary is the most common crime at marijuana dispensaries and cultivations<\/a>, and experts say it\u2019s because they are forced to deal in cash.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"media_block\"><\/div>\n<p>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. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5062,52,7163,7176,7406,7407,7317,7408,6813,77,5577,6815,5667,9,7231,5019,441,7319,302,1,3,61,1736],"tags":[5063,2632,7165,7179,7411,7412,7318,7413,6818,2655,5580,6820,5673,7232,5022,3015,7320,2880],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9090"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=9090"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/9090\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=9090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=9090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=9090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}