Guam AG joins effort to legalize banking for marijuana industry

TAMUNING, Guam — Guam Attorney General Elizabeth Barrett-Anderson joined a coalition of 19 attorneys general calling for Congress to pass legislation allowing marijuana businesses in states that have legalized medical or recreational marijuana to utilize the banking system. Although some states have legalized marijuana, marijuana remains a controlled substance under federal law, which regulates banks and other depository institutions.

  The coalition of AGs argues that the requested legislation would protect public safety by bringing gray-market financial activities into the banking sector — and thus subject to law enforcement monitoring — and would also infuse billions of dollars into the banking . . .

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