NewsCovering Colorado


Senator Gardner to introduce amendment allowing cannabis businesses to use banks

Posted at 6:44 PM, Dec 15, 2018

WASHINGTON – Republican Senator Cory Gardner hopes to introduce an amendment early next week that would change how pot shops do their business.

The amendment would allow cannabis businesses to open bank accounts, and not deal solely in cash.

Companies could only open accounts in states where medical or recreational marijuana are legal, but one dispensary owner in Denver says there is no downside to this possible amendment.

“There’s the transparency for the government, what they’re looking for, while allowing us to continue to effectively operate our business,” said Peak Dispensary owner, Justin Henderson. “It’s a convenience for our customers to. Right now most of the smaller chains, we’re using cash. We require our customers to get cash out of an ATM, which is an additional expense.”

The amendment would be attached to a criminal justice reform bill Gardner has worked on with democratic senator, Elizabeth Warren, since this summer.

Gardner’s office said the senator will continue to work hard on this, since, “ensuring states rights are recognized when it comes to the regulation of marijuana is a fight we should continue to have.”