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LAS VEGAS — Regulations and paperwork are driving up costs for financial institutions serving marijuana companies doing business in states with legal pot sales, a cannabis banker told a conference in Las Vegas.

Sundie Seefried told hundreds of cannabis trade show attendees at MJBizCon last week that a subsidiary of her Colorado credit union had to file more than 7,000 reports with regulators on behalf of 220 cannabis-related member companies.

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She compared that with 226 reports required for 33,000 regular members of her Partner Colorado Credit Union.

“When you ask me why banking is expensive — what you are really paying for are all the bodies it takes to file 7,000 reports,” she said.

Banking was again a key topic during the three-day trade show that drew more than 26,000 people to the Las Vegas Convention Center, the Las Vegas Review-Journal reported . The conference ended Friday.

Medical marijuana sales are legal in 33 states and recreational sales in 10.