³ÉÈËXÕ¾

MYNORTHWEST NEWS

Washington leaders rally around push to change banking laws for pot shops amid rash of robberies

Apr 20, 2022, 1:13 PM

Pot shops, banking laws...

Sen. Patty Murray speaking during a Wednesday press conference. (Courtesy photo)

(Courtesy photo)

With Washington in the midst of an uptick in pot shop robberies, state leaders are rallying around a push to pass federal legislation they say will provide much-needed relief.

Pot shops call for more collaboration, police, and new banking rules

Recent incidents include one at a Tacoma dispensary where an employee was shot and killed during an armed robbery. Just days before that, an employee at a Covington pot shop was taken hostage, before the suspect was shot and killed by another store employee.

Because of federal regulations, cannabis sales in Washington are conducted with cash, which keeps large quantities on-hand at most pot shops, and in turn, makes them prime targets for robberies. That has local leaders pushing for a bill known as the SAFE Banking Act, which has been passed by the U.S. House Representatives upwards of six times despite repeatedly stalling out in the Senate.

In practice, it would allow banks to conduct financial transactions related to the sale of cannabis, which remains illegal at the federal level despite recreational marijuana being permitted in 18 states. The hope is that by allowing transactions to be conducted using debit and credit cards, shops will no longer have to carry as much physical currency.

“Washington businesses and their employees need action today,” Gov. Jay Inslee and Attorney General Bob Ferguson wrote in published on Tuesday. “This has become a matter of life and death.”

Washington treasurer pushes Congress for solution to rash of violent pot shop robberies

Joining that push on Wednesday was Washington Sen. Patty Murry, who voiced her thoughts on the SAFE Banking Act during a press conference in Tukwila.

“It makes absolutely no sense that legal cannabis businesses are being forced to operate entirely in cash,” she said. “It’s dangerous — and sometimes even fatal — for the employees behind the register, but this situation is also completely preventable.”

This also comes after Washington Treasure Mike Pellicciotti met with the state’s Congressional delegation in late March to lay out a plan to finally push the SAFE Banking Act over the finish line, at the time intimating how he believed “there might be a path” in the months to come.

MyNorthwest News

Sea-tac custody fugitive...

Frank Sumrall

Fugitive who escaped Sea-Tac custody captured after six weeks on the run

A fugitive who's been on the run for approximately six weeks after escaping from police custody at Sea-Tac Airport was found and arrested Wednesday.

49 minutes ago

Oak Harbor home explosion...

Gwen Baumgardner and Jason Sutich

Investigators reveal source of deadly Oak Harbor explosion

An Oak Harbor home explosion and fire caused significant damage, alarming residents and prompting emergency response efforts.

13 hours ago

John Wilson, candidate for King County Executive...

Julia Dallas

‘A new low point for county politics’: King County Assessor continues to fight restraining order

King County Assessor John Wilson battles a restraining order from his former fiancée amid ongoing legal challenges.

13 hours ago

JBLM soldier...

Julia Dallas

Former JBLM soldier pleads guilty to trying to deliver military secrets to China

A former JBLM soldier admits to attempting to deliver military secrets to China.

14 hours ago

Spokane crypto kiosk ban...

Jason Sutich

Spokane crypto kiosks banned after $141 million in scam losses

Spokane's crypto kiosk ban targets rising scams, protecting citizens from more than $141 million lost to fraud.

15 hours ago

seattle downtown ambassadors...

Luke Duecy

Seattle ambassadors tackle trash, graffiti, and tourist help in push to beautify downtown

The Downtown Seattle Association released new data on its ambassadors over the past year, highlighting their efforts to help Seattle shine.

17 hours ago

Washington leaders rally around push to change banking laws for pot shops amid rash of robberies