This Marijuana Bill Introduced in the Senate Could Solve a Big Problem

Colorado Senators Michael Bennet (D-Colo.) and Cory Gardner (R-Colo.), and Oregon Senators Jeff Merkley (D-Ore.) and Ron Wyden (D-Ore.) introduced a bipartisan bill in the U.S. Senate that would essentially decriminalize the act of providing banking services to legal marijuana businesses and would protect banks from being penalized by the federal government.

Removing this major roadblock would certainly make like easier for existing marijuana businesses as it would broaden the transaction process (credit cards would likely be accepted at nearly all legal marijuana shops), and it would open up the field for existing marijuana business owners and prospective owners to get into the business by securing loans. Being able to draw down a line of credit could be important for growers, processors, and retailers when it comes to buying product ahead of time or expanding existing facilities (with state permission).It's also a boon for banks. After all, they would benefit from the interest on outstanding loans to the marijuana industry, which I would presume would come with a much higher lending rate than to traditional businesses due to the risk associated with it.