Sending Office: Honorable Denny Heck
Please join us in an effort to let the House work its will in legislating the federal response to states legalizing marijuana. Cosponsor this amendment to allow banks and credit unions to service state-regulated marijuana businesses. When the House considered
this amendment in 2014, it passed 231 -192. We hope, working together, we can get this amendment made in order again this year.
As states continue to legalize the use of marijuana for medical need and responsible adult use, it becomes increasingly important to ensure this is not an all-cash industry. With the California State Treasury estimating marijuana sales in 2018 will reach
$7bn in their state alone, we will face a public safety crisis if those transactions all take place in cash stored in dispensaries in our communities. Billions in cash is a magnet for crime, and we have already seen life lost as a result. Travis Mason was
a Marine veteran working security at a dispensary in Aurora, Colorado when he was killed during an armed robbery in 2016.
Federal regulations are interfering with state efforts and thwarting banks from conducting business with state regulated marijuana business. This amendment bars the Treasury Department from penalizing financial institutions involved in legal state activities.
These restrictions only apply to states that have passed marijuana laws of their own, including D.C. Puerto Rico and Guam. Three years ago, the House passed this amendment but it was stripped out of the final bill. Since then, the problem has only grown more
Congressional action is needed to give banks stable and predictable rules in which to operate. If you have any questions or would like to become a co-sponsor of this amendment, please contact Graham Markiewicz in Rep. Heck’s office at Graham.Markiewicz@mail.house.gov or
Denny Heck Ed Perlmutter
Member of Congress Member of Congress
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