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New York State Calls On Banks To Work With Marijuana Businesses

Regulators and lawmakers have scrambled to address banking issues

New York state’s top financial officials have joined the growing chorus of regulators and business leaders calling on banks to work with the legal cannabis industry.

Many financial institutions remain wary of possible sanctions for servicing businesses considered federally illegal.

Earlier this month, New York’s Department of Financial Services issued new guidance to encourage state-chartered banks and credit unions to provide access to financial services.

 

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