Michigan’s attorney general is getting behind a push to change federal law to allow banks to do business with marijuana companies.
Even in states like Michigan, where marijuana is legal, it remains a cash business.
Banks and credit unions remain leery of handling money from marijuana due to federal anti-drug laws.
Michigan Attorney General Dana Nessel is part of a bipartisan coalition of attorneys general for 38 states and territories urging Congress to pass the Secure And Fair Enforcement (SAFE) Banking Act.
The bill would allow legal marijuana-related businesses to use the federal banking system.
Supporters say changing the law would allow cannabis businesses to operate like any other legal business.
The legislation is awaiting a vote in the House.