On May 20, 2019 banking associations from all 50 states and 1 territory sent a letter to Senate Banking, Housing, and Urban Affairs Committee urging them to “conduct hearings on the merits of providing cannabis-related business access to banking services.”

CannaLawBlog highlighted the primary concerns of the letter in a recent post:

“Again, the primary concern expressed was that current law forces state-legal businesses to operate on a cash basis, which poses a safety risk, complicates enforcement efforts, and could damage local economies.”

The banking associations wanted to emphasize their neutrality on the legality of cannabis, rather they wanted to show strength as a national community and validate, support, and respect those communities that have voted for legalized recreational marijuana.

Read the complete post by
Harris Bricken attorney Jihee Ahn on The CannaLawBlog.