Treasurer Sends Letter to President, Wants to Protect Medical Marijuana Patients

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Illinois State Treasurer Michael Frerichs seeks change to protect medical marijuana patients.

Frerichs sent a letter to President Donald Trump, encouraging his administration’s assurance that banks won’t face penalties or prosecution for doing business with state-licensed marijuana businesses.

Federal law currently prohibits banks from processing money used in the legal marijuana industry, making it hard for businesses to secure loans.

The Trump administration’s approach will play a critical role in the future of medical marijuana in Illinois, and will be a strong consideration when lawmakers decide to expand or kill the current pilot program.

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