Members of the US community banking sector are now one step
closer to receiving the clarity that would allow the fledgling
marijuana and hemp industries the necessary legitimacy for
The current patchwork of individual state and federal
regulations means that those banks looking to work with
investors, farms, providers or dispensaries do not have any
guarantees of safety that activity will go unpunished. As such,
working in the sector remains taboo for most.
Speakers at the American Banking Association's (ABA) annual
conference in Seattle this week were confident that further ru
bnvles would soon provide some form of clarity.
"I am tired of talking about marijuana. We need resolution
on this huge issue. It is only going to get worse, and it will
take all of us to get that done," Joanne Cundiff, president and
CEO, First State Bank of St. Charles, told delegates in
Seattle, echoing sentiments of...