Citigroup is reevaluating its policy on testing job applicants for marijuana use as Wall Street banks weigh whether to work with the $75 billion cannabis industry

use as Wall Street banks weigh whether or not to work with the industry, a spokesperson confirmed.

Last week, New York City Council passed a bill that would bar employers in the city from forcing job applicants to take drug tests for marijuana use. The move would affect banks headquartered in New York City. A spokesperson for Goldman Sachs told Business Insider the bank tests job applicants for drug use, but not marijuana. Morgan Stanley doesn't test applicants for drug use.

In a sign of the changing times, Citigroup has held ongoing conversations around reevaluating its policy on screening job applicants for marijuana use as Wall Street banks weigh whether or not to work with the industry, a spokesperson confirmed to Business Insider.as the reason for reevaluating the policy.that would bar employers in the city from forcing job applicants — outside of 'safety-sensitive' industries like law enforcement and construction — to take drug tests for marijuana use.

The Citi spokesperson confirmed to Business Insider that while Citi still tests all job applicants for marijuana use, it had been holding conversations around changing the policy for months prior to the New York City Council bill's passing.The bill is currently awaiting New York City Mayor Bill de Blasio's signature — it will go into effect one year after it's signed into law.

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