{"id":800542,"date":"2019-10-20T17:30:29","date_gmt":"2019-10-20T23:30:29","guid":{"rendered":"https:\/\/www.summitdaily.com\/?p=373280"},"modified":"2019-10-20T17:30:29","modified_gmt":"2019-10-20T23:30:29","slug":"congress-is-weighing-whether-to-give-marijuana-businesses-access-to-banks-in-colorado-thats-already-happening","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/ksmt\/local-news\/congress-is-weighing-whether-to-give-marijuana-businesses-access-to-banks-in-colorado-thats-already-happening\/","title":{"rendered":"Congress is weighing whether to give marijuana businesses access to banks. In Colorado, that\u2019s already happening"},"content":{"rendered":"<figure class=\"wp-block-image p402_hide\">\n<div class=\"caption-container\"> <img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2019\/10\/CoSunPotBank-SDN-102119-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt srcset=\"https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2019\/10\/CoSunPotBank-SDN-102119-1024x576.jpg 1024w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2019\/10\/CoSunPotBank-SDN-102119-300x169.jpg 300w, https:\/\/cdn.summitdaily.com\/wp-content\/uploads\/sites\/2\/2019\/10\/CoSunPotBank-SDN-102119-768x432.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><figcaption><strong>Automated fans and cultivation lights are pictured operating above cannabis plants at RiNo Supply&#8217;s cultivation facility near Lafayette on Thursday, Dec. 13, 2018. Automation sensors monitor temperature, humidity and light intensity inside the greenhouse as a way of regulating the fans and light output and, according to the cannabis company, help reduce energy-consumption costs. <\/strong><br \/><em>Andy Colwell \/ Special to The Colorado Sun<\/em><\/figcaption><\/div>\n<\/figure>\n<p>Colorado\u2019s cannabis industry has had a chief request since marijuana was legalized: Give us access to banks.&nbsp;<\/p>\n<p>But it turns out that hundreds of the state\u2019s pot businesses are already working with financial institutions under the close watch of federal regulators, even though marijuana remains illegal at the federal level. As many as 35 banks and credit unions offer services to the&nbsp;<a href=\"https:\/\/coloradosun.com\/2019\/06\/12\/where-does-colorados-marijuana-tax-money-go\/\">state\u2019s $6.5 billion-plus industry<\/a>, according to the Colorado Bankers Association.&nbsp;&nbsp;<\/p>\n<p>Most financial institutions are secretive about their business relationships with companies that grow and sell marijuana legally, limiting the number of customers they will take on and asking their clients to sign nondisclosure agreements, said Amanda Averch, a spokeswoman for the bankers association.<\/p>\n<p>\u201cThey\u2019re serving this business, effectively, anonymously,\u201d she said.<\/p>\n<p><em>The Colorado Sun is a reader-supported news organization dedicated to covering the people, places and policies that matter in Colorado. Read more, sign up for free newsletters and subscribe at&nbsp;<a href=\"https:\/\/coloradosun.com\/2019\/10\/01\/marijuana-banking-colorado-safe\/?utm_source=Pico&amp;utm_campaign=8122b925ef-Sun-Up&amp;utm_medium=email&amp;utm_term=0_2e5f9a0f1b-8122b925ef-62576397&amp;mc_cid=8122b925ef&amp;mc_eid=d565575d22\">coloradosun.com<\/a>.<\/em><\/p>\n<p><a href=\"https:\/\/www.summitdaily.com\/news\/congress-is-weighing-whether-to-give-marijuana-businesses-access-to-banks-in-colorado-thats-already-happening\/\" target=\"_blank\" rel=\"noopener noreferrer\">via:: Summit Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Automated fans and cultivation lights are pictured operating above cannabis plants at RiNo Supply&#8217;s cultivation facility near Lafayette on Thursday, Dec. 13, 2018. Automation sensors monitor temperature, humidity and light intensity inside the greenhouse as a way of regulating the fans and light output and, according to the cannabis company, help reduce energy-consumption costs. Andy [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[99],"tags":[],"class_list":{"0":"post-800542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-18 22:08:37","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSMT The Mountain","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/ksmt","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/800542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/comments?post=800542"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/posts\/800542\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/media?parent=800542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/categories?post=800542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/ksmt\/wp-json\/wp\/v2\/tags?post=800542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}