Cannabis Banking Coalition
The cannabis industry within Michigan is a multi-billion-dollar industry, and state licensed cannabis businesses are restricted from accessing regulated
banking and financial services.
Michigan Attorney General Dana Nessel has joined a coalition of 22 Attorney Generals who are urging congressional leaders to change just that.
Cannabis remains an illegal substance under the Federal Controlled Substances Act and certain federal banking statues.
The Attorney Generals argue that effective safe harbor of the industry would bring in billions of dollars to the banking sector and would ensure compliance of cannabis businesses and their
transactions.