Polis unveils ‘Roadmap to Cannabis Banking and Financial Services’
DENVER, Colo. (KRDO) -- Governor Polis is looking to help marijuana and hemp businesses bank in Colorado.
Polis' new plan would increase the number of banks and financial services allowed to work with these businesses.
The issue is that marijuana is still illegal on the federal level, making for confusing banking regulations. Here in Colorado Springs, small businesses like The Treehouse are required to deal entirely in cash, which makes employees nervous.
"I always feel uncomfortable when we go up [to Denver] to pay taxes with a backpack full of cash. That's the only way they'll allow us to do it," said James Harmon, a local grower. "It's dangerous, it can be heart-wrenching, it can be scary."
Harmon's fears are not unfounded; burglary is the most common crime at dispensaries.
Now, the governor calling his plan a "Roadmap to Cannabis Banking and Financial Services" stating in part:
"We are excited to release a bold, forward-thinking roadmap to provide much-needed guidance, clarity and support to state-chartered financial service providers that work with or are interested in working with the state-legal cannabis industry."
Local dispensary workers say this has been a long time coming.
Harmon says he appreciates the governor's stance and hopes other states will follow.
"We all knew it would be a fight," he said. "I think that if Polis and other governors stand together and really push hard against these legislators we could get some answers, we can get some help."
