Cato Institute “Cannabis Banking: A Clash Between Federal and State Laws”
Cannabis Law Report
MAY 28, 2022
To be clear, the existing policy does not ban financial services for the cannabis industry. Rather there are just too many legal risks and compliance costs, so most financial institutions stay away. In fact, only 518 of the nearly 5,000 commercial banks in the United States reported having served the cannabis industry in 2021.
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