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Michigan AG Nessel Applauds Legislative Resolutions Urging Congress to Let Marijuana Businesses Use the Banking System

LANSING – Michigan Attorney General Dana Nessel today issued the following statement regarding bipartisan resolutions introduced yesterday by Rep. Yousef Rabhi and Sen. Curtis Hertel to urge Congress to pass the SAFE Banking Act:

“I applaud Rep. Rabhi, Sen. Hertel and the co-sponsors of these resolutions for their forward-thinking leadership to ensure all legal and legitimate businesses in Michigan have a safe place to store their revenue. Prohibiting these businesses from using our regulated banking system forces them to handle millions of dollars in cash. As Michigan expands its market to include legal recreational sales of marijuana this year, we must do everything possible to ensure we protect Michigan businesses from becoming unnecessary targets for violent and white-collar crimes. These challenges are recognized by the Michigan Bankers Association and the Michigan Credit Union League, which is why they also support the SAFE Banking Act – because it will allow these businesses access to the federal banking system and their members.”