Colorado: Legislation to Allow Marijuana Businesses Access to Financial Services Signed into Law

On March 27, 2020, Governor Jared Polis (D) of Colorado signed legislation into law concerning marijuana businesses and access to financial services.

HB 20-1217 states, “A state chartered bank or a credit union may loan money to any person licensed pursuant to this article for the operation of a licensed medical or retail marijuana business.”

The soonest the law will take effect is September 1, 2020.