As Colorado and Washington state prepare to legalize recreational marijuana sales, federal banking regulators are facing pressure to bring pot merchants into the financial mainstream.

The arm-twisting is coming from a hodgepodge of officials who don't necessarily care whether pot is legal, but who hope to prevent armed robberies and money laundering in states where it's currently being sold on a cash-only basis. That group includes governors, members of Congress, state banking regulators, and local law enforcement officials.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.