By Danielle Chavira

DENVER (CBS4) – Gov. Jared Polis and 21 other governors from across the country sent a letter to Congress urging lawmakers to allow cannabis shops to use banks. The business has been cash-only for years.

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The governors want legislation included in the final 2022 National Defense Authorization Act.

“After years of cannabis being legal in a multitude of states, it is long overdue for cannabis businesses to finally financially operate alongside other businesses in the open national banking system,” Polis said.

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He adds the industry, medical and recreational, brought in $17.5 billion in 2020. The new SAFE Banking Amendment would allow businesses to get loans at competitive rates and

 

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Read the full letter.

Danielle Chavira