State Treasurer Has Plan for Banking Side of Medical Marijuana Industry

State Treasurer John Perdue is recommending two possible banking solutions for medical marijuana. It was legalized by lawmakers last year, but Perdue was notified earlier this year by banking vendors on contract with the state that they won’t accept deposits related to marijuana sales because of federal rules. In a letter to the governor, Perdue recommended options that would help the Treasurer’s office create and implement a third-party loop system, or create a State Bank within the Treasurer’s Office. Both options require action from lawmakers.