By Brett Wolf for Reuters

WASHINGTON, Nov 20 (Thomson Reuters Accelus) – Banks, worried about running afoul of federal money-laundering law in dealing with state-authorized marijuana businesses, may soon receive some much-needed guidance from U.S. agencies.

Because a federal prohibition of marijuana is still in place, most banks do not work with marijuana businesses in states that have legalized them for fear they might be charged with money laundering or failing to comply with other federal laws.

The U.S. Treasury Department plans to discuss with banks and other regulators how the federal enforcement stance regarding state-authorized marijuana business could affect the banking industry.

Read more: Banks seek help with U.S. law when doing business with pot shops | Reuters.