The American Bankers Association (ABA) hasb shared a new poll in conjunction with the Morning Consult showing that the majority of U.S. consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services.
Of the 2,210 adults interviewed for the survey —
- 65% support allowing cannabis businesses to access banking services (e.g. checking accounts, business loans) in states where cannabis is legal
- 68% support Congress passing legislation that allows cannabis businesses to access banking services and products in states where cannabis is legal
While all 50 states have legalized hemp production, ill-defined federal law continues to discourage banks, lenders, and credit card processing services from providing safe banking to legally operating businesses involved in the hemp space.
“Consumers clearly agree that now is the time to resolve the ongoing conflict between state and federal law so banks can serve legal cannabis and cannabis-related businesses,” ABA CEO Rob Nichols said in a press release. “Doing so will help banks meet the needs of their communities while enhancing public safety, increasing the efficiency of tax collections and improving the financial transparency of the cannabis industry.”
SOURCE US HEMP ROUNDTABLE. EMAIL ALERT. 8 MARCH 2022
