State AGs Urge Passage Of Federal Cannabis Banking Bill

By Jack Queen (September 23, 2019, 9:12 PM EDT) -- A group of nearly two dozen state attorneys general on Monday urged Congress to pass a bill that would clear banks to serve marijuana businesses and end the industry's heavy reliance on cash in the 33 states that have legalized cannabis in some form.

The Strengthening the Tenth Amendment Through Entrusting States Act would halt the "confusing and dangerous regulatory limbo" around cannabis by effectively exempting state-legal marijuana from federal drug laws, according to the letter signed by 21 Democratic and Republican attorneys general. The bill is one of two before Congress that would effectively legalize marijuana banking.

"The proposed STATES...

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