Maine AG Joins Group That Wants Review Of Banking Laws, Pot

Jan 17, 2018

AUGUSTA, Maine - Maine Attorney General Janet Mills says she is joining a group of attorneys general that is calling on Congress to review federal banking rules as they apply to marijuana.
Mills and 18 other attorneys general want more information about how the banking regulations apply to the emerging marijuana industry in the states that have legalized the drug. Maine is one of those states.
Mills says the group wants legislation that provides "a safe harbor'' for institutions that provide financial services to businesses in states that have implemented marijuana laws and regulations. She says the federal government has a responsibility to "bring its practices in line with the states that have seen fit to legalize marijuana.''
She says the lack of rules encourages cash transactions that lack accountability.