American marijuana producers, bankers, and real-estate firms came to Washington this week to lobby Congress in favor of Rep. Ed Perlmutter’s marijuana banking bill. The Colorado Democrat has labored for six years to let financial institutions handle money from cannabis businesses in the states that have legalized marijuana. After the House Financial Services Committee backed his SAFE Banking Act in March, Perlmutter says he hopes for a floor vote before the end of June.
“Businesses that are legitimate in their state ought to have legitimate banking relationships that allow them to accept credit cards, get loans and have payroll accounts,” Perlmutter told Barron’s. “Just normal banking activity.”