Federal bills from Colorado legislators seek to shield state marijuana laws, open banking

Michael Bennet and Cory Gardner seek more accessible financial services for cannabis businesses
The Cannabist (US)
Thursday, May 18, 2017

Colorado federal lawmakers amplified efforts to protect state-enacted marijuana laws and cannabis businesses supporting banking legislation for the marijuana industry. Reps. Diana DeGette and Mike Coffman introduced the Respect States’ and Citizens’ Rights Act of 2017, which would add a provision to the Controlled Substances Act that would prevent federal preemption of state law. Democrat Michael Bennet and Republican Cory Gardner, announced their sponsorship of the Secure and Fair Enforcement (SAFE) Banking Act of 2017, the Senate companion bill to legislation introduced a few weeks back by Rep. Ed Perlmutter, D-Colorado.