When it comes to marijuana legalization, the conflict between state and federal laws appears to be cause for concern for New Hampshire banks.

Todd Wells, Chief Bank Examiner for the New Hampshire Banking Department, says it’s a matter of “reputation risk” for state-chartered banks and credit unions hesitant to establish direct relationships with marijuana-related businesses.

“The other aspect of the reputation risk would be when and if a federal government law enforcement agency or regulator decided to take action, legal or otherwise, against that institution for that sort of activity, and that could certainly introduce some reputation risk,” he says.

Source: www.nhpr.org

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