Senate Discusses Marijuana Banking Laws

YAKIMA, Wash.-- The Senate Judiciary Committee will held a hearing on Tuesday to discuss the issue of state and federal marijuana laws.

20 states and the District of Columbia have legalized medical marijuana.  Colorado and here in Washington also allow it for recreational use.

But while the department of justice said it would not interfere with those laws, it has not resolved many banking concerns.

Governor Inslee and Attorney General Bob Ferguson said they are concerned that federal restrictions on marijuana-related banking will make it more difficult for the state to regulate pot businesses.

Most businesses simply take their excess cash to the bank, but many marijuana dispensaries can't get bank accounts because banks don't want to handle money coming from marijuana, which is still illegal at the federal level.

Tuesday afternoon the committee heard both sides as U.S. senators discussed whether to consider new laws that would work between state and federal laws.  Several bills have already been proposed in the house.

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