Oregon legislators lead the way for federal cannabis regulation reform

Oregon legislators are leading state legislators throughout the country to urge Congress to legalize cannabis and thereby allow legal businesses to access financial services. Today, the National Conference of State Legislators (NCSL) passed a policy directive, drafted by Oregon legislators, that makes removing cannabis from the federal Controlled Substances Act a priority for NCSL’s advocacy efforts in Washington, DC.  Pam Leavitt and Paula Sardinas from your NWCUA Advocacy team heard the news first as they are on the ground in Los Angeles representing northwest credit unions at the annual NCSL meeting.

During the 2018 Washington state legislative session, thanks to credit union advocacy, legislation was passed that exempts financial institutions that provide services to cannabis related businesses from any state criminal law. A similar law first passed in the Oregon Legislature in 2017, again with credit union advocates’ support. However, current federal regulations still create barriers and risks to financial institutions in Washington and Oregon that provide banking services. This new directive from NCSL will focus efforts to advocate for lifting the federal prohibition on cannabis and letting states set their own cannabis regulation.

 

Posted in Advocacy on the Move.