Oregon Delegation to NCSL Leads Way on Cannabis Banking Policy

During the National Conference of State Legislators recently, state senators and representatives from across the United States passed a resolution at the annual convention urging Congress to help legal cannabis businesses access banking services and let states determine their own path forward on cannabis regulation.

Oregon legislators Sen. Ted Ferrioli, Sen. Ginny Burdick, and Rep. Ann Lininger worked together to craft and pass this resolution at the National Conference of State Legislatures annual summit, currently underway in Chicago.

“This is a strong unified call upon Congress to give legal cannabis businesses access to the banking services other legal businesses enjoy. Right now legal cannabis businesses must operate all in cash, which invites crime and hurts our work to eliminate the illegal market,” said Senate Minority Leader Ted Ferrioli, a key architect of the resolution.

“Twenty-five states, the District of Columbia and Guam already allow legal cannabis businesses,” noted Senate Majority Leader Ginny Burdick. “In November, a number of states, including California, will have cannabis legalization measures on their ballots. As more states continue to legalize either medical or adult use cannabis, it is imperative that we allow legal cannabis businesses to access the banking system. It is a public safety issue.”

Recently in Oregon, a medical dispensary was robbed.  News media have reported hundreds of robberies at legal cannabis businesses elsewhere.  “It’s not safe or reasonable to require legal businesses to operate all in cash,” concluded Sen. Ferrioli.

“This bill represents the same kind of bipartisan teamwork that has helped us be effective on cannabis issues in Oregon,” noted Rep. Lininger, who carried the bill at the convention. “We need Democrats and Republicans to work together to address tough issues, and our work on cannabis, both in Oregon and at this national convention of legislators, shows that’s possible.”

NWCUA Director of Grassroots Advocacy, Samantha Beeler, was at the event and echoed those sentiments.

“We deeply appreciate the insightful work of these legislators to help credit unions bank legal businesses” she said.

To learn more about Your Association’s advocacy on this or other state issues, contact the Advocacy team at sbeeler@nwcua.org or 503.350.2218.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.       

 

Posted in Advocacy News, MAXX Annual Convention, NWCUA.