Illinois State Treasurer Urges Trump to Let Banks Work with Marijuana Industry

SPRINGFIELD, IL — Illinois State Treasurer Michael Frerichs on Monday sent a letter to President Trump asking for “clear guidance” in allowing banks to do business with the marijuana industry.

Illinois is one of 28 states that allows medical marijuana under a state-supervised program.

Federal law currently prohibits banks from processing money from customers working in the legal marijuana industry, making it difficult for marijuana related businesses to do…

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