With millions of dollars in medical
marijuana proceeds — all cash — being moved across Pennsylvania monthly in
unmarked cars, state banking regulators have appealed to leaders in the U.S.
Congress to create protections for financial institutions so that banks and
credit unions might serve the state cannabis industry.
The Wolf Administration on Friday
sent a letter making the request to Congress' top leaders: U.S. Reps. Paul
Ryan, R.-Wis., and Nancy Pelosi, D-Ca. and U.S. Sens. Mitch McConnell, R-Ky.,
and Chuck Schumer, D-N.Y.
"We urge Congress to consider legislation that creates a safe harbor for financial institutions to serve a state-compliant business, or entrusts sovereign states with the full oversight and jurisdiction of marijuana-related activity," states the letter from Pa. Secretary of Banking and Securities Robin L. Wiessmann. State banking officials from Alaska, Connecticut, Hawaii, Louisiana , Michigan, Montana, Nevada, New York, Oklahoma, Oregon and Washington State also signed the letter.
