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High Hopes: AG Ford Backs Cannabis Banking!
CARSON CITY, Nev. — Nevada Attorney General Aaron D. Ford has joined a bipartisan coalition of attorneys general urging Congress to pass the SAFER Banking Act of 2025. The coalition submitted a letter to congressional leaders advocating for legislation that would provide legal clarity for banks and financial institutions to serve state-regulated cannabis businesses.
"Cannabis legalization has reached almost every corner of our country in some form," said Ford. "The lack of reliable, consistent banking services for cannabis-related businesses is not only a struggle for these businesses that operate legally under their local laws, it is a safety hazard for the communities they serve through no fault of their own. I strongly urge Congress to pass this legislation to finally allow these businesses to have the tools they need to bank safely and securely."
The letter emphasizes that current federal banking restrictions force legitimate cannabis businesses to operate primarily in cash, creating unnecessary public safety risks. This cash-intensive environment makes employees and customers targets for violent crime while undermining states' ability to effectively regulate and tax these industries.
The coalition highlights the significant economic impact of state-regulated cannabis industries, noting that U.S. legal cannabis retail sales reached $30.1 billion in 2024, supporting approximately 425,000 jobs nationwide.
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