Cannabis banking bill could expand access for Pennsylvania businesses, patients

By: Anthony Hennen

(The Center Square) – While medical marijuana is legal in Pennsylvania and there’s an ongoing push to legalize recreational use, federal prohibition makes banks and insurance companies hesitant to do business with marijuana companies.

The risk of following state law but violating federal law complicates efforts to redirect black-market drug sales into legal and regulated channels. A proposed bill, SB1167, won’t change federal law, but it could expand marijuana-related businesses’ access to financial institutions.

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