A GOP congressman is pressing federal financial regulators about the ongoing issues that state-legal marijuana businesses face when trying to access basic banking services under federal prohibition.
At a hearing before the House Financial Services Committee on Tuesday, Rep. Warren Davidson (R-OH) asked Comptroller Jonathan Gould whether banks are “still blocking customers who are engaged in lawful marijuana activities.”
“Because nearly every state, whether you like it or not, has made some form of marijuana lawful in those states, and we haven’t synced up at the federal level,” he said. “So I’d love to catch up on how we’re doing that.”
The congressman had limited time to speak and advised that he’d be submitting a formal question for the record to witnesses addressing the cannabis banking issue in hopes of getting a substantive response after the hearing.
Gould also made a brief reference to marijuana banking earlier in the meeting.
In response to another lawmaker’s unrelated question about fraud issues in the banking industry, he said that “in the four months I’ve been on the job that is certainly an issue, fraud, that has risen to the top of my kind of to-do list.”
“It was not something
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