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Daniel P. Stipano quoted in American Banker article, “Industry to Crapo: Detach pot banking from public health debate”

American Banker

Daniel P. Stipano

Daniel P. Stipano was quoted on January 26, 2020 in an American Banker article, “Industry to Crapo: Detach pot banking from public health debate,” which discussed Senate Banking Committee Chairman Mike Crapo’s (R-Idaho) memo that discusses the Secure and Fair Enforcement Banking Act and the concern about public health and safety. The article stated, “Crapo outlined particular qualms with the bill in an interview with American Banker in October after the Centers for Disease Control and Prevention issued warnings about vaping following a string of vaping-related deaths. He said that the Banking Committee would need to consider the types of cannabis products that can be banked under the bill and suggested that products that involve vaping could be excluded.”

Stipano noted, “Crapo could be worried that the passage of a bill like the SAFE Banking Act might be perceived as promoting marijuana use, which in turn could worsen a public health issue. Introducing vaping into the discussion greatly complicates things and makes passage of the bill less likely because of concerns about the serious health risks associated with it. Getting a better understanding of the risks will take time.”

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