Colorado EditorialsUncategorized

The Loveland Reporter-Herald editorial: Get behind marijuana banking law

Author: The Loveland Reporter-Herald - May 19, 2017 - Updated: May 19, 2017

No matter where one stands on the legality of marijuana, or whether marijuana businesses should operate in your community, the safety of those businesses and the people who operate them is important.

Without access to banking services, due to the fact that federal law still criminalizes the drug, dispensaries deal almost entirely in cash.

Automatic teller machines in the lobby of marijuana retail establishments allow banks to collect service fees for those who want to withdraw cash to buy the product, but the person on the other side of the counter can’t put that cash back into an account and write checks for wages, rent and other necessities.

Read more at The Loveland Reporter-Herald.

The Loveland Reporter-Herald

One comment

  • Robert Chase

    May 19, 2017 at 9:33 am

    Idiotic and ignorant — what point is there in shielding the cannabis-industry from the application of certain federal laws, but not others? Besides the Controlled Substances Act (which Perlmutter’s banking bill will not touch) and banking laws, there are any number of other statutes making the conduct of businesses transacting cannabis felonious. There is only one solution (and it doesn’t involve giving responsibility for regulating cannabis to the BATF, as Polis’ bill — endorsed by Perlmutter – would): deschedule cannabis now and permit the states to enact their own regulations until prohibitionists can be removed from the federal government and rational laws instituted. Support H.R. 1227, the Ending Federal Marijuana Prohibition Act of 2017. Colorado’s dim excuses for journallists just hop on board Perlmutter and Polis’ ill-considered legislation, which are mere sops that will not legallize the cannabis-industry.


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