The Maine Credit Union League joins The Cannabis Consortium.
The Maine Credit Union League along with California State Treasurer John Chiang and other members of a multi-state consortium recently sent a letter to U.S. Attorney General Jeff Sessions to request a meeting with him in a new effort to resolve the conflicts between federal and state marijuana laws.
Because Sessions is an ardent opponent of medical and recreational marijuana use, that may be a long shot. But MCUL President/CEO Todd Mason said the voters in his state have spoken to legalize marijuana and financial institutions need clarity in order to serve the cannabis industry and to keep their communities safe.
“We want to get involved in this because we need clarity. We need clarity for credit unions,” said Mason. “The other aspect of it is, if those (cannabis) dollars are not going into traditional financial services like credit unions, those dollars are not trackable, they’re not taxable, and they’re not helping the state move forward. And there’s certainly agreement and disagreement around whether marijuana should be legalized or not. Our