Marijuana: Proposed federal bill seeks to give pot businesses banking access

Even though medical marijuana businesses are legal at the state level, they still are illegal under federal law. And while this raises the spectre of federal law enforcement coming down on Colorado businesses, the bigger concern revolves around banking. Since banks are monitored federally, they do not like to do business with enterprises that are not legal on the federal level. This means that the millions of dollars coming in from the marijuana industry in this state are usually coming through cash transactions.