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house Bill H.R. 1595

Should the Feds Allow Legal Marijuana Businesses to Access Banks?

Argument in favor

The federal prohibition on state-licensed cannabis businesses accessing the traditional banking system has forced the industry to be largely cash-based.. Aside from being inconvenient, this also makes cannabis businesses and their employees targets and makes them more difficult to audit. Giving cannabis businesses access to traditional banks would benefit everyone involved.

jimK's Opinion
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09/25/2019
Yes, if it legal in many states, they should have access to legal and traditional banking services. If cannabis legislation to reclassify the drug has not caught up- so what? Are we going to prevent legal business interests, employee benefits and payroll services from functioning properly because the feds have not caught up- or are encumbered by congressional dinosaurs who have not been in touch with public interests since the epoch when they were first enshrined into their life time positions? It isn’t about the product- it is about operating businesses that are well regulated, beneficial to State and Federal taxation and which provides a widely desired product. I would certainly prefer this to unregulated, un-taxable and unsafe street dealers- just for public safety.
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TheProductDS's Opinion
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09/25/2019
There’s a huge opportunity to raise revenues that can contribute to a much needed welfare state. While you’re at it, release all non violent drug offenders and expunge their records.
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Phillip's Opinion
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09/25/2019
If it’s legal it means they should have access to banks.
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Argument opposed

The federal government shouldn’t lift the ban on cannabis businesses accessing the banking system until federal marijuana laws are reformed more broadly to account for legalization by states. Alternatively, the federal government should keep marijuana illegal and crackdown on state-licensed cannabis businesses that are ignoring federal law.

JTJ's Opinion
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09/26/2019
I’m fine with this, but you can’t do it until it’s decriminalized.
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James's Opinion
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09/26/2019
Really? So while our country is being gutted by the DNC some of the biggest bills being sent up is about dope shops using banks... society has some very misplaced priorities... They shouldn't even exist, let alone use federal secured banks.
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Gregory's Opinion
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09/25/2019
Nothing good will come out of this drugs are bad for people and bad for our country Wake up and count the overdose deaths that are growing in number. Pot
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    Yes, if it legal in many states, they should have access to legal and traditional banking services. If cannabis legislation to reclassify the drug has not caught up- so what? Are we going to prevent legal business interests, employee benefits and payroll services from functioning properly because the feds have not caught up- or are encumbered by congressional dinosaurs who have not been in touch with public interests since the epoch when they were first enshrined into their life time positions? It isn’t about the product- it is about operating businesses that are well regulated, beneficial to State and Federal taxation and which provides a widely desired product. I would certainly prefer this to unregulated, un-taxable and unsafe street dealers- just for public safety.
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    I’m fine with this, but you can’t do it until it’s decriminalized.
    Like (10)
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    There’s a huge opportunity to raise revenues that can contribute to a much needed welfare state. While you’re at it, release all non violent drug offenders and expunge their records.
    Like (59)
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    If it’s legal it means they should have access to banks.
    Like (45)
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    Why would we want to force a legitimate business to use cash instead of banking services. That makes no sense!
    Like (25)
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    Legal is legal...isn’t it???
    Like (19)
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    New tax revenue!
    Like (16)
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    The banks should be able to take these deposits, it will cute down on robberies of these businesses and their employes and customers.
    Like (14)
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    Yes and while you are at it legalize marijuana. Treat it the same way you do alcohol and cigarettes.
    Like (14)
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    Absolutely. The time for full legalization of cannabis is at hand. It is time for the government to realize income from its sales.
    Like (13)
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    Businesses operating in states legally shouldn’t have to refuse card service for fear of card companies not honoring the sales. CBD is a prime example as well.
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    Yes
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    Yes, since states are deciding they would like to have legal marijuana, it seems best to allow those states to use banks for the funds related to that business.
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    THEY ARE JUST LIKE ANY OTHER LEGAL BUSINESS. IF COMPANIES THAT SELL ALCOHOL AND TOBACCO CAN HAVE ACCESS TO BANKS, SO SHOULD MARIJUANA BUSINESSES!
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    It is very dangerous for people working in this field when they have to carry cash. It is not going to go away, so make it incorporated into the system.
    Like (9)
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    Of course! With the states legalizing marijuana right and left-the federal government must deal with the reality! Legal marijuana is big business! And they could pay a good deal of taxes if the federal government stopped being stupid!
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    This is a free market. Alcohol, tobacco and prescription drugs are allowed to use the banking system. Marijuana is a natural extension.
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    A state's legal marijuana sales should have banking access. Eventually it will be legal nationally, and a safe place for the cash sales is necessary.
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    It helps the banks, that should be enough for you.
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    Let’s do this right.
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