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Medical marijuana and industrial hemp businesses need banking services as much as other businesses do. (Photo: Shutterstock)

On July 3, New York’s Gov. Andrew M. Cuomo directed the state’s Department of Financial Services (DFS)  to support the development of medical marijuana and industrial hemp businesses by issuing guidance regarding what his statement announcing the guidance called the “safe and sound provision of banking services for these businesses.”

Rosalie Donlon

Rosalie Donlon is the editor in chief of National Underwriter Property & Casualty magazine and PropertyCasualty360.com. You can contact her at rdonlon@alm.com.

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