Whitmer urges Congress to open banks to marijuana industry
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, 18 governors say the cash-only environment is a threat to public safety and a burden for governments that tax and regulate marijuana businesses.
Gov. Gretchen 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.