<p style="line-height: 20.8px;">Dante Tosetti has gone from a post with the Federal Reserve Bank of San Francisco to a new position with Privateer Holdings Inc., a holding company that invests in cannabis businesses. With recreational marijuana use legal in four states and the District of Columbia, cannabis is a quickly growing industry in the U.S. But banks have been hesitant to do business with companies involved in the sector, despite guidelines from the Justice Department in February 2014 that described how banks might provide services to marijuana businesses in states that have legalized the substance.</p>