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Banking in the cannabis industry is a challenge and the state Treasurer is trying to modernize the rules. 

 

Right now cash that comes in from legal marijuana companies has a hard time finding a bank or credit union to take it. The laws are there to prevent drug money from illegal businesses being put into the mainstream economy. Mike Frerichs says that’s outdated with legal marijuana businesses.

 

 

Frerichs would like to see a law that would prohibit state regulations from impacting banks who work with legal marijuana companies. 

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