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Jordan Brown, a beloved gifted artist, worked at a Tacoma cannabis dispensary, and was tragically killed a year ago in a robbery. Cannabis store robberies have become increasingly frequent due in large part to the large amount of cash on hand. These stores are not allowed to engage in traditional banking and credit card transactions. Photo: KOMO News
Along with our state, the majority of US states allow medical cannabis sales, and a growing number also allow recreational sales. But the US banking systems and credit card companies will not support these businesses, as cannabis sales still conflict with federal laws. On 4/20 a year ago, US Senator Patty Murray responded to a season of particularly deadly cannabis retail store crimes in our area by emailing the Associated Press “It makes absolutely no sense that legal businesses are being forced to operate entirely in cash, and it’s dangerous — and sometimes even fatal — for employees behind the register.” Polls show that a clear majority of voters and lawmakers support allowing marijuana businesses to engage in commercial banking.
The US House of Representatives has approved bills over a half a dozen times allowing banks to do business with pot shops, but it has stalled in the US senate. Patty Murray tried to help push a senate bill through last year that had support of a majority of senators including at least 9 republicans, but it got blocked at different times by BOTH democrat and republican senate leaders.
Mitch McConnell, senate minority leader (a republican), appears simply locked in the past; he’s against legal pot and therefore against banks doing business with pot shops.
Chuck Shumer, senate majority leader (a democrat), fumbled the legislation in a different way. He blocked a vote on a bipartisan-sponsored bank reform bill with a good chance of success because the bill did not also address the expunging of criminal records for those that have been convicted of marijuana possession. While expungement has genuine merit as a mechanism for helping mitigate some of the racial inequality caused by the war on drugs, these two issues could have been worked incrementally with greater success. Getting banking solved would enable pot to become more normal and mainstream, which would facilitate expungement in a later bill. His push to combine expungement with banking caused republican supporters to hesitate, and he missed his best window last year for getting the banking legislation accomplished.
King County has paid a tragic price for this failure, as pot shops have continued to be one of our biggest targets for strong-armed robberies, often losing $20,000 – $50,000 per attack while causing trauma to employees.
Our Renton Police Department has enough other work on their hands that they don’t need the extra work of protecting businesses forced to work in all cash. The senate will be looking at this issue again this year. Please encourage our US Senators and House Representatives to keep up the push for SAFE cannabis banking laws. Ours have been supportive, and it’s good to remind them it remains important to our safety.
Here are a couple of other opinions on this topic:
Democrats’ Focus On Social Justice Marijuana Bills Has Blocked Achievable Progress On Reform (Op-Ed)
Chuck Schumer Scrambles To Save the Marijuana Banking Bill He Blocked Last Year
As a resident of Renton, I am concerned about the dangers facing legal cannabis businesses in our community due to their lack of access to the banking system.
As a society, we have a responsibility to ensure that all businesses, including legal cannabis businesses, can operate safely and securely. This is particularly important in Renton, where we need to ensure the safety and well-being of all members of our community given recent council members ideas about defunding our police.
I urge federal lawmakers to recognize the importance of supporting legal cannabis businesses in Renton to operate safely and securely.
Could it be that maybe Washington State has it incorrect? Maybe the state needs to follow Federal laws and not legalize the sale of pot. While this may have given the state additional monies it is also adding legal headaches.