420 with CNW – 50 State Banking Associations Urge Congress to Act on Marijuana Banking
Banking associations from all the 50 states across the U.S. have written a letter to the Senate Banking Committee to pass and advance the bipartisan bill before it seeking to protect financial institutions from federal penalties for doing business with licensed marijuana businesses. In their letter delivered on April 20, the state banking associations observed that forcing cannabis businesses to operate on a cash-only basis exposes the businesses, their employees and the public to serious safety risks. The banking associations also added that regulation and enforcement has been very difficult, something that can have adverse effects on the economy. Tax…