A bipartisan majority of state attorneys general sent a letter to Congressional leaders on Thursday in support of passing federal protections for banks who do business with marijuana companies.
“We write today in support of the SAFER Banking Act of 2025,” the letter read. “It is increasingly critical to move cannabis commerce into the regulated banking system.”
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The letter’s signatories include representatives from most – but not all – of the states with legal medical or adult-use cannabis sales.
Notable absences included the attorneys general from Republican-led states like Arkansas and Alabama.
Marijuana banking reform still needed for public safety
As the AGs noted, federal marijuana prohibition leaves most large banks unwilling to provide even basic financial services to state-legal marijuana businesses.
Read full article on Marijuana Business Daily
