A bipartisan group of senators is stepping up the push to let marijuana businesses store their profits in banks, with a possible vote coming as soon as this week. PHOTO: TOM SYDOWUnder the current federal prohibition of cannabis, many banks refuse to do businesses with marijuana growers, processors and sellers that operate legally in accordance with a growing number of state laws. As a result, many cultivators and dispensaries operate on a cash-only basis, which makes them targets for robberies. That could soon change under a proposal that ten U.S. senators filed on Wednesday. Despite a U.S. Department of Justice move in January to undo protections for state marijuana laws, a top Trump administration official has repeatedly indicated he wants to solve cannabis businesses' banking access problems.

Source: Forbes March 08, 2018 15:56 UTC