21 Governors Send Letter of Support for SAFE Banking Act to Congress

DENVER- Today, 20 states and the U.S. Virgin Islands, led by Colorado Governor Jared Polis, sent a letter urging the United States Congress to pass legislation allowing states with legalized medical or adult-use cannabis to operate safely under the national banking system. 

“I’m proud that my fellow Governors and I are urging Congress to make the common sense decision to allow state-licensed cannabis-related businesses to have normal bank accounts,” said Governor Jared Polis. “For more than a decade, Colorado has been a model of the success of these businesses and it’s well past time that we allow them to join our banking system. I want to thank Rep. Ed Perlmutter for his tireless efforts and years of dedication on this issue.”

The letter states, “We strongly support the passage of the Secure and Fair Enforcement (SAFE) Banking Act of 2021 (H.R. 1996/S. 910) or similar legislation that would remove the legal uncertainty and allow banks and credit unions to provide services to state-licensed cannabis-related businesses.”

Currently, 36 U.S. states, four U.S. territories, and the District of Columbia have legalized the medical use of cannabis. Additionally, 18 states, two territories, and the District of Columbia have legalized recreational use by adults over 21 years of age.

Read the letter in full here.