Democrats urge feds to update banking ‘red flags’ on legal marijuana businesses 

By: - November 16, 2023 5:13 pm

Twenty members of Congress, who mostly represent states where recreational marijuana is legal, said in a Nov. 21, 2023, letter that 2014 guidance from the Treasury Department’s Financial Crimes Enforcement Network to put “red flags” on marijuana businesses hurts the firms' chances of securing banking services or loans. Marijuana products are seen on display at Apothecarium Dispensary on April 21, 2022 in Maplewood, New Jersey. (Michael M. Santiago/Getty Images)

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Jacob Fischler
Jacob Fischler

Jacob covers federal policy as a senior reporter for States Newsroom. Based in Oregon, he focuses on Western issues. His coverage areas include climate, energy development, public lands and infrastructure.