Poll: 65% of U.S. Voters Support Giving Cannabis Companies Banking Access

According to an Independent Community Bankers of America (ICBA) poll released on Tuesday, 65% of U.S. voters support allowing cannabis businesses to have access to financial services in states where cannabis is legal. The poll was commissioned by Morning Consult. 

The poll found that 71% of respondents agree that allowing cannabis businesses to access baking services would help reduce the risk of robbery and assault at the businesses. Another 55% said that with some cannabis-related businesses owned and led by people of color, women, and the LGBTQ community, allowing for cannabis banking would help these underserved communities.   

In a statement, ICBA President and CEO Rebeca Romero Rainey said the poll shows “U.S. voters have made clear that current law inhibiting access to the banking system for cannabis-related businesses has a negative impact on local communities.” 

“With a supermajority of U.S. voters voicing support for allowing cannabis-related businesses access to the banking system, the Senate should act now on bipartisan cannabis banking legislation that the House has passed seven times.” — Romero Rainey in a press release 

ICBA’s polling also found that more than 80% of voters agree that businesses that operate exclusively in cash have a higher risk of robbery or theft; 62% believe that restricting cannabis-related businesses from accessing the banking system poses a threat to public safety; 63% say that allowing cannabis-related businesses to access the banking system will help improve public safety, and 58% agree that a Senate vote on establishing a cannabis banking safe harbor is important. 

ICBA was the first national banking trade group to support the SAFE Banking Act and to testify before Congress on its behalf.