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March 26, 2021

Aleece Burgio Quoted in WBEN Article on Banking Challenges Facing the Cannabis Industry

Aleece Burgio, Cannabis Team leader, was interviewed for WBEN’s article “Banking Still a Major Hurdle for Cannabis Industry” regarding the cannabis industry’s inability to work with banks. Due to the federal prohibition of marijuana, banks cannot work with the cannabis industry. While it is risky for banks to do business with the cannabis industry, more banks on the East Coast are starting to take risks. On March 23, 2021, a bill to create protections for financial institutions that provide financial services to cannabis-related businesses was introduced in the US Senate.

“What this bill would do is give the guidance necessary for banks to be comfortable in accepting marijuana money so there’s more protections in place for workers,” Aleece said.

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