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In a comment letter on the FRB's "Principles for Climate-Related Financial Risk Management for Large Financial Institutions," the American Bankers Association supported efforts to create "a high-level guide for the largest institutions," but raised concerns on both substance and process.

The American Bankers Association (the "ABA") expressed support for the Secure and Fair Enforcement Banking Act ("SAFE Banking Act") of 2019. In a letter to Senator Jeff Merkley (D-OR) and Senator Cory Gardner (R-CO), the ABA stated that the SAFE Banking Act takes a critical step toward enabling financial services for cannabis-related businesses by specifying that proceeds from "legitimate cannabis business" would not be illegal pursuant to federal money laundering statutes. The ABA noted that, as the legal state-cannabis industry expands, the "indirect" connections to cannabis revenues will