Thirty-eight state attorneys general wrote to congressional leaders, urging them to pass legislation permitting banks to serve marijuana-related businesses (MRBs) in states where cannabis is legal.
The bipartisan group, on behalf of the National Association of Attorneys General (NAAG), expressed support for the SAFE Banking Act — which the House Financial Services Committee advanced by a 45-15 vote in April — or similar legislation that would provide a safe harbor for depository institutions serving legal MRBs.
Read on to learn why the AGs support the measure.