Cannabis business push for marijuana safe banking bill

The owner of Indigrow in Muskegon says not being able to bank anywhere he chooses creates a safety and equity problem.

MUSKEGON, Mich. — After numerous marijuana dispensary break-ins across the state, Michigan’s Attorney General Dana Nessel is urging Congress to pass a bill that would allow cannabis businesses to keep their money secure at traditional banks.

“We grow ’em the Michigan way. Nice and tall,” said Steven Kekelik, CEO and owner of Indigrow, a microbusiness that grows, processes and sells marijuana products in one location. 

“We just had a string of break-ins. We had one place broken into town twice within a couple of weeks.”

Kekelik says marijuana dispensary break-ins are a critical problem and one Nessel addressed this week.

Her office recently issued warrants for a dozen people responsible for over 20 break-ins across the state.

Nessel’s urging Congress to pass the Secure and Fair Enforcement (SAFE) Banking Act.

In a statement she wrote in part, “Without access to traditional banking the cannabis industry is left as a ripe target for criminals. Any legal business should have fair access to our banking institutions for the security of their own business and employees as well as public safety.” 

“I agree by having massive cash on hand in a society where most businesses don’t makes them a target,” said Kekelik.

Kekelik believes the act puts them on a level playing field with every other industry in the state.

“There are currently three banks in the state that I can use to deposit my money into, none of which are local. I drive 50 miles to deposit my cash and all the other businesses that I can support here in Muskegon I now can’t use because of the risk that brings them with dealing with the cannabis industry.” 

The SAFE Act passed the U.S. House last Fall but its future in the Senate remains unclear. 

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