Marijuana Moment reports

Treasury Secretary Steven Mnuchin pledged on Tuesday to take a look at a banking bill that would enable financial institutions to service cannabis businesses. While the official said he’s not familiar with the legislation, he acknowledged that the existing system—which leaves many marijuana companies operating on a largely cash-only basis—is a “significant issue.”

“I’m not going to make a comment on what the policy should be,” Mnuchin said. “There is a problem that there is a conflict between the federal law and state law.”

Rep. Brad Sherman (D-CA) asked Mnuchin to review the Secure and Fair Enforcement (SAFE) Banking Act and consider endorsing it within two weeks. The official said he’d be “happy to review it and my staff will follow up.”

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