CANNRA Comments on the urgency of the cannabis banking situation in states
The Cannabis Regulators Association (CANNRA) commends Congress for their bipartisan work on legislation to provide banking and financial services for the regulated cannabis industry and those who work with the industry. CANNRA member states and territories continue to report negative impacts from the lack of available financial and banking services for regulated cannabis businesses and those working with the cannabis industry. CANNRA previously sent a letter in May 2022 urging Congress to consider the realities and experience of state regulators when pursuing these important policy measures. Our prior letter highlighted banking and finance-related challenges cannabis regulators have observed in their states and territories. This letter provides updates regarding these issues, further demonstrating the importance and urgency of federal action.
