DENVER — Colorado Leads released the following statement in response to the U.S. Senate Banking Committee’s approval of the Safe and Secure Enforcement and Regulation (SAFER) Banking Act.

Statement from Chuck Smith, president of the board of directors for Colorado Leads:

“We applaud the Senate Banking Committee for advancing the SAFER Banking Act. Ensuring state-legal cannabis businesses have adequate access to banking and other financial services is critical to protecting public safety and the safety of cannabis businesses and their employees. It would also help smaller businesses and social equity operators, who are more severely impacted by the lack of loans, banking, and other financial products.

“Legal cannabis businesses need banking and financial services just as much as other legal businesses, and this bill would be a big step toward achieving parity. We hope Congress will work quickly to get this legislation approved and over to the president for his signature.”