Court of Appeals Vacates Workplace Threat
Court of Appeals Vacates Workplace Threat
Pregnancy Leads to Firing of Hobby Lobby Employee
Pregnancy Leads to Firing of Hobby Lobby Employee
Law Recruiter Explains Why Older Attorneys Struggle to Join Firms
Law Recruiter Explains Why Older Attorneys Struggle to Join Firms
Guess How Long a Sex Toy Was Stuck Inside This Woman Before She Realized It
Guess How Long a Sex Toy Was Stuck Inside This Woman Before She Realiz...
Job Listings

Future Marijuana Banking Regulations

facebooktwittergoogle_plusredditpinterestlinkedinmail

Currently, processing money from sales of marijuana puts federally insured banks at risk of drug racketeering charges. Because of the fear of criminal prosecution, financial institutions often refuse to let marijuana-related businesses open accounts. According to CBS News, that might be changing very soon. CBS reports that the Attorney General Eric Holder released that the Obama administration is planning to roll out regulations soon, that would allow banks to do business with sellers of legal marijuana. Attorney General Eric Holder spoke during an interview with Douglas Blackmon at the Miller Center on the Grounds of the University of Virginia in Charlottesville. The interview with the attorney general occurred during a taping of American Forum, a weekly public-affairs program that airs on public television across the country.

Banks are reluctant to do business with marijuana businesses given the drug’s outlaw status federally. The issue has been gaining a lot more public attention ever since Colorado and Washington have become the first states to legalize recreational use of marijuana. In addition to Colorado and Washington, 18 other states and the District of Columbia allow some legal use of marijuana, primarily for medicinal purposes. The recreational marijuana business is a multimillion-dollar industry. Certainly marijuana enthusiasts will be delighted to see more businesses support their lifestyle-choice. If banks aren’t penalized, and regulations support the industry, then who knows, perhaps soon we’ll have investment grade marijuana.

Image Credit: www.businessweek.com

Future Marijuana Banking Regulations by
facebooktwittergoogle_plusredditpinterestlinkedinmail

Tagged:

Jaan Posted by on January 24, 2014. Filed under Business News,Home,Weird News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Sr. Legal Specialist - Labor & Employment Practices
USA-VA-Richmond

Altria Group is a FORTUNE 200 company that owns the premier tobacco companies in the United States including Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton and Nu Mark. The companie...