- Asked about the Fed's thoughts on the cannabis space, Chair Jerome Powell says further regulatory guidance would be helpful.
- "I think it would be great to have clarity," Powell says. "It puts financial institutions in a very difficult place and puts the supervisors in a difficult place, too."
- Marijuana remains illegal on a federal level in the United States, but 10 states and the District of Columbia have allowed its use for recreational purposes.
The nation's banks are taking on Attorney General Jeff Sessions over pot with a big lobbying push to loosen federal restrictions on the surging legalized marijuana industry.
Emboldened by support from both President Donald Trump and Sen. Elizabeth Warren (D-Mass.) — two relentless foes on most other issues — top banking trade groups are pressing policymakers to make it easier for their members to serve cannabis businesses that are now legal in states like California and Colorado.