Sessions' Resignation Not Necessarily A Cure For Legal Cannabis De-Risking

Experts are unconvinced that the recent resignation of anti-marijuana hardliner Jeff Sessions as U.S. Attorney General is good news for legal cannabis businesses and the payment providers seeking to serve them.

Sessions' adversarial stance against marijuana, including his January 2018 rescinding of the Cole Memo, which directed federal prosecutors to defer to state marijuana laws, was widely seen as a significant factor in the continued reluctance by banks to serve the fast-growing industry, which is projected to bloom to $25bn by 2025.

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