Governor Polis Statement on SAFE Banking Act

Thursday, March 18, 2021

DENVER - Today, Governor Jared Polis issued a statement on the introduction of the Secure and Fair Enforcement (SAFE) Act. The bill will prohibit federal banking regulators from penalizing financial institutions that do business with cannabis businesses in states where cannabis is legal and regulated. 

“I’m thrilled that this important legislation is once again being brought before Congress. It is critical that we legitimize cannabis businesses, many of which have been in operation for over a decade, by allowing them to interact in a transparent and legal fashion with our state and federally chartered financial institutions. Cannabis industry dollars should flow through the banking system like any other state regulated commodity, which in turn will create another layer of regulation and significantly enhance public safety. I want to thank my former colleague, Representative Ed Perlmutter, for his work to champion this bill. I supported this as a Congressman and now as Governor of the first state in the country to regulate adult use of cannabis, I urge the House to pass this bill quickly and send it on to the Senate.”