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The Bankers Associations of every US state have voiced their support for allowing legal marijuana businesses access to banking services. As it stands right now, legal marijuana businesses in the US are largely banned from accessing the key banking services that nearly all legitimate business now rely on. Current federal regulations are such that if a bank does choose to work with state legal cannabis businesses, they can be prosecuted under money laundering laws for dealing with an industry that is still illegal on the federal level. However, Bankers Associations across the country are calling for a change to this federal policy which they say "presents serious public safety, revenue administration, and legal compliance concerns." "As a result of congressional inaction and the lack of regulatory clarity, legal cannabis businesses must operate on an all-cash basis, subjecting their employees and the general public to serious risk of criminal activity and harm," reads a letter sent to the Senate Banking Committee on behalf of the Bankers Association of all 50 states and Puerto Rico.

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