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  • Post Time Posted September 04, 2018
State banking officials in 12 US states signed and sent a letter to Federal House leaders last week urging them to create “safe harbor” legislation for banks doing business in state-legal marijuana industries. 

Representatives from Alaska, Connecticut, Hawaii, Louisiana, Michigan, Montana, Nevada, New York, Oklahoma, Oregon, Pennsylvania and Washington state, sent the letter to House leaders Paul Ryan, Nancy Pelosi, as well as Senate leaders Mitch McConnell, and Chuck Schumer. 

The state regulators’ group also urged them to remove “unnecessary risk” for banks working in the industry. 

Currently, any banks that do business with state-legal marijuana-related companies are at risk of federal prosecution, because marijuana is still a schedule 1 drug under federal law in the U.S. 

Source: https://mjbizdaily.com/state-leaders-seek-banking-solution-for-marijuana-industry/


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