New England Council backs bank protections for pot industry
By State House News Service The New England Council, a business-minded organization that maintains close ties to members of Congress from the six northeast states, last week voiced its support for federal legislation to protect banks working with state-legal marijuana companies from federal regulatory penalties. Because marijuana remains wholly illegal at the federal level, state-authorized businesses have struggled to find banks, most of which operate under federal regulations and with federal insurance, willing to accept them as customers. Industry leaders and other supporters...