Many states have legalized marijuana in some form, but under federal law it remains a controlled substance. That conflict creates challenges when cannabis-related businesses seek banking and other financial services from federally regulated institutions. In this video, GAO Director Courtney LaFountain explains: • The federal guidance available to financial institutions serving cannabis-related businesses • Why banks must conduct enhanced due diligence and file additional reports • What financial institutions consider when deciding whether to serve the cannabis industry • Why cannabis businesses may face higher banking fees and limited access to loans • How restrictions on payment processing