Senators Sanders, Warren, Booker and Others Join Forces in Calling for Cannabis Banking

A group of U.S. senators have sent a letter to the Treasury Department’s Financial Crimes Enforcement Network urging the government to allow cannabis banking.

cannabis bankingThe bipartisan group of senators that sent the letter include Senators Bernie Sanders (I-VT), Elizabeth Warren (D-MA), Cory Booker (D-NJ), Lisa Murkowski (R-AK), Jeff Merkley (D-OR), Angus King (I-ME), Ron Wyden (D-OR), Kirsten Gillibrand (D-NY), Patty Murray (D-WA) and Al Franken (D-MN).

“The majority of legal marijuana businesses, and businesses that provide services to them, are all but barred from participating in the financial system,” states the letter. “As a result, many legal businesses are forced to operate in cash, which jeopardizes community safety.”

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Comprehensive Medical Cannabis Legalization Bill Introduced to Congress

By Law Enforcement Against Prohibition

Senators Rand Paul (R-KY), Cory Booker (D-NJ), and Kirsten Gillibrand (D-NY) Introduce Bipartisan CARERS Act

Today, apicture comprehensive bipartisan medical marijuana legalization bill was introduced to Congress that would prevent federal law enforcement agencies from interfering in state medical marijuana laws. The Compassionate Access, Research Expansion, and Respect States (CARERS) Act would recognize marijuana’s medical validity by rescheduling it from Schedule I (no accepted medical use and high potential for abuse) into Schedule II (some medical value and high potential for abuse). This would allow banks greater freedom to provide financial services to state-legal medical dispensaries, improve transportability of the drug, and open doors for scientific research. Currently, medical marijuana patients, dispensary owners and cultivators are still in violation of federal law, and could be subject to federal prosecution. This has remained an obstacle for many other states that would otherwise be considering similar policies.

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Legislation to End Federal Prohibition on Medical Cannabis Announced in U.S. Senate

On Tuesday, March 10cannaamerica, at 12:30pm EST, Senators Cory Booker (D-NJ), Rand Paul (R-KY) and Kirsten Gillibrand (D-NY) will host a press conference to introduce bipartisan legislation that would end the United State’s prohibition on medical cannabis. Specific details of the proposal will be announced at the press conference.

“Almost half the states have legalized marijuana for medical use; it’s long past time to end the federal ban,” says Michael Collins, Policy Manager for the Drug Policy Alliance. “This bipartisan legislation allows states to set their own medical marijuana policies and ends the criminalization of patients, their families, and the caregivers and dispensary owners and employees who provide them their medicine.”

Read moreLegislation to End Federal Prohibition on Medical Cannabis Announced in U.S. Senate