Right now, cannabis dispensaries are forced to operate in cash because of federal regulations. Arizona Attorney General Kris Mayes says that needs to change.
On Thursday, Mayes announced that she has joined a bipartisan coalition of AGs in calling on Congress to pass what’s called the SAFER Banking Act of 2025.
“The Safer Banking Act of 2025 would provide clarity for banks and other financial institutions to serve state-regulated cannabis businesses,” Mayes’s spokesperson Richie Taylor said.
The attorneys general say a cash-intensive environment makes employees and customers targets for violent crime, while undermining states’ ability to effectively regulate and tax these billion-dollar industries.
More Arizona Marijuana News
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The Trump administration reclassified medical marijuana as a less dangerous drug in April. A weekslong hearing on whether to put recreational use in the same category starts Monday in Washington, D.C. -
Respondents to a survey in Colorado expressed interest in trying cannabis as an alternative to pharmaceutical medications and because they had exhausted other interventions. -
The company is a growing operation, and according to Aeriz’s website, it uses 95% less water than traditional soil farming, in a state that desperately needs it. -
The name Trulieve is on more than 20 marijuana dispensaries in Arizona. -
A payment processor for marijuana dispensaries has been ordered by the Arizona Corporation Commission to pay back retirees hundreds of thousands of dollars.
