Cuomo, 20 other govs push for SAFE Banking Act

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FILE – In this June 27, 2017, file photo, Jerred Kiloh, owner of the licensed medical marijuana dispensary Higher Path, stocks shelves with with cannabis products in Los Angeles. Weedmaps a major online pot shop directory and cannabis marketplace announced Wednesday, Aug. 21, 2019, that it will no longer allow black-market businesses to advertise on its site, a decision that could boost California’s efforts to rein in its vast illegal market. Kiloh, who heads the United Cannabis Business Association, an industry group, projected that half of California’s illegal operations could dry up once they are denied access to Weedmaps ads. (AP Photo/Jae C. Hong, File)

WASHINGTON (NEWS10) — Gov. Andrew Cuomo—who has chaired the National Governors Association since August—and 20 other governors want the federal government to pass the SAFE Banking Act of 2021. They issued a letter to congressional leaders pushing them to pass it.

According to Cuomo’s office, the SAFE Banking Act lets states with legalized marijuana operate safely under the national banking system. It also allows banks and credit unions to provide services to state-licensed, cannabis-related businesses.

The letter is addressed to the leaders of both parties in both houses of Congress, plus the heads of the committees on Financial Services and Banking, Housing and Urban Development. They include Sens. Chuck Schumer, Mitch McConnell, Sherrod Brown, and Pat Toomey, plus Reps. Nancy Pelosi, Kevin McCarthy, Maxine Waters and Patrick McHenry.

36 states, four territories, and the District of Columbia have legalized medical weed; only 18 states, two territories, and D.C. also allow legal recreational use for adults over 21.

Take a look at the letter—from the governors of Massachusetts, New Jersey, Pennsylvania, Connecticut, Colorado, California, Illinois, Louisiana, Maine, Michigan, Nevada, New Mexico, North Dakota, Oregon, Utah, Virginia, Washington state, West Virginia, Wisconsin, and the U.S. Virgin Islands—below:

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