As more and more states legalize the use and sale of marijuana, more and more banks are finding themselves caught between the pincer of local needs and federal law. The conflict between state and federal laws is creating a ripple of lost growth opportunities and public safety problems. And because of the intersection of federal drug laws and the Bank Secrecy Act, the ripple effect of the cannabis conflict extends to a wide range of "marijuana-related businesses"-an expansive category that stretches from grow operations and dispensaries to their vendors, landlords, suppliers and even utilities.
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