Artwork for Legalized Cannabis and Considerations for Bankers
ABA BANKING JOURNAL PODCAST Legalized Cannabis and Considerations for Bankers

Comptroller of the Currency Joseph Otting said today that he hopes that the current conflict between state and federal laws that inhibits banks from serving cannabis-related businesses will be resolved by 2020. “Congress is going to have to act at the national level to legalize marijuana if they want those entities involved in that business to utilize the U.S. banking system,” he told Politico, adding that he projected 25-30 percent odds it might be dealt with this year, “but I would hope by 2020 we can get this issue resolved.”

Full Article / Source: www.bankingjournal.aba.com

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