requested a meeting with Attorney General Jeff Sessions."/> Treasurers From Legal Weed States to Jeff Sessions: We Need to Talk About Banking - News - Indopedia

Treasurers From Legal Weed States to Jeff Sessions: We Need to Talk About Banking – News

Asp” target=” blank”> requested a meeting with Attorney General Jeff Sessions.” target=” blank”> harming public safety by discouraging banks from dealing with canna-businesses. This state of affairs consequently forces cannabis companies to deal in large quantities of cash, making them vulnerable to robbery.

“In this incredibly divisive time, the issues surrounding the legalization of cannabis provide a unique opportunity for policymakers, regulators, and law enforcement officials from all sides to meet and reach a consensus,” the letter reads, according to Marijuana Moment. “These states represent a true cross-section of America. This is not just a blue state phenomenon, but includes purple and red states in every corner of our country. A majority of Americans now live in states where they have decided to legalize cannabis. During the halcyon days of the Obama administration, former Attorney General Eric Holder issued the Cole memo, which directed federal authorities not to interfere with state-legal cannabis operations.

In light of Sessions’ decision to ramp up his personal war against cannabis, state treasurers are hoping to meet with him to address concerns that this change will affect banks’ ability to serve canna-businesses. Asp” target=” blank”> the treasurers wrote.

“Whether cannabis should be legal is not relevant to the simple fact that it now is in more than half of the states,” the letter continues. “With legalization taking place, there are sound public policy reasons for providing financial institutions and other entities that do business with the cannabis industry some comfort that they will not be prosecuted, or lose access to customer assets, simply for banking this industry. Among the policy positives that could result is greater public safety and more efficient collection of tax revenues.

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