American Bankers Association survey says two thirds of Americans support cannabis banking


A consumer survey from the American Bankers Association reports that 66% of Americans support allowing cannabis businesses to access banking services including checking accounts and business loans in states where cannabis is legal. Two-thirds of Americans support federal legislation from Congress to allow cannabis businesses to enter into banking services in the 39 U.S. states with medical cannabis and 19 plus Washington D.C. and Guam that also have adult-use programs. A cannabis banking measure known as SAFE Plus Banking has passed the U.S. House of Representatives several times but has yet to win approval from the Senate, but some remain hopeful that may still happen during the upcoming Lame Duck session of Congress. The American Bankers Association released the study on Tuesday and it was initially reported by Marijuana Moment. The AdvisorShares Pure US Cannabis ETF MSOS, +0.08% is down 57.4% in 2022, compared to a 32% loss by the Nasdaq COMP, -0.08%.

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