Gov. Whitmer urges Congress to open banks to marijuana industry

LANSING, Mich. (AP) — Michigan Gov. Gretchen Whitmer is among 18 governors to sign a letter urging Congress to open the U.S. banking system to the legal marijuana industry.

In the letter written Friday and released Monday, the governors say the cash-only environment is a threat to public safety and a burden for governments that tax and regulate marijuana businesses.

Whitmer, a Democrat, says in a written statement that states are seeking a “real solution to a real problem.”

Most banks will not do business with the industry because the federal government still considers marijuana illegal.

Michigan voters legalized the use of marijuana for recreational purposes last fall, a decade after approving medical marijuana.

Michigan’s Democratic Attorney General Dana Nessel was among 33 attorneys general to sign a similar letter to Congress last month.

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  • C

    The only real reason Whitmer, or any other government official, would really want the banks to get involved is the paper trail that would be used for tax purposes. The only “real problem” is monitoring the revenue that transactions would generate.

  • Jim

    How about first taking care of the firearms industry that has been legal since, forever. It has been going on for awhile now there, and with Obama it finally became public with “Operation Choke Point”.

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