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Earlier this week, Governor Mills signed a bipartisan letter to Congress, urging lawmakers to take action on cannabis banking. The letter outlines support for the Secure and Fair Enforcement (SAFE) Banking Act (H.R. 1595) and (S.1200), stating that the legislation “would remove the legal uncertainty for banks and credit unions, reducing their risk, enhancing public safety, and increasing financial transparency.”
The letter was led by Governor Phil Murphy (D-New Jersey) and signed by the following Governors:
- Kate Brown (D-Oregon)
- Doug Burgum (R-North Dakota)
- Tony Evers (D-Wisconsin)
- Gary Herbert (R-Utah)
- Larry Hogan (R-Maryland)
- Jay Inslee (D-Washington)
- Jim Justice (R-West Virginia)
- Ned Lamont (D-Connecticut)
- Michelle Lujan Grisham (D-New Mexico)
- Ralph Northam (D-Virginia)
- Jared Polis (D-Colorado)
- JB Pritzker (D-Illinois)
- Steve Sisolak (D-Nevada)
- Tim Walz (D-Minnesota)
- Gretchen Whitmer (D-Michigan)
- Tom Wolf (D-Pennsylvania)
- Albert Bryan Jr. (D-Virgin Islands)
- Leon Guerrero (D-Guam)
Governor Mills signed onto a similar letter when she was Attorney General. In a statement concerning the letter, Governor Mills said,
“Over the course of the last several months, my Administration has worked quickly to stand up Maine’s adult-use recreational marijuana market, as passed by the voters in 2016. As the Legislature nears final approval of the rules, it is important for Congress to do its part and bring the federal government’s banking practices in line with states like Maine that have seen fit to legalize marijuana. Doing so will encourage state-licensed businesses to use established banking institutions, protect these financial institutions from federal sanction, and create a higher level of transparency and accountability.”
Following the release of the letter League President and CEO Todd Mason said,
“I applaud Governor Mills for weighing in with Congress on this important issue. Conflicting federal law creates enormous uncertainly for financial institutions when serving legal cannabis businesses in states like Maine. I know Governor Mills shares our concerns about the significant public safety risk this scenario poses. I’m confident her input and the support of her peers from other states will help continue the dialogue about this problem in Washington.”
Governors Cannabis Banking Letter to Congress