Spokane Washington Pot Businesses Could Bank On Credit Union

Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday.

WASHINGTON: Numerica Credit Union is the first financial institution in the state willing to accept clients whose business is recreational marijuana, the Washington Liquor Control Board was told Wednesday. But only for Spokane area businesses, Becky Smith, the board’s marijuana licensing manager, said: “They want to keep it local.” That could give Spokane marijuana growers, processors and retailers a leg up Read the full article…

Colorado Lawmakers Shy Away From Pot Bank

In addition to the daunting threat of criminal penalties, financial institutions that deal with cannabusinesses have to worry about offending federal regulators with the power to impose millions of dollars in fines or sentence a bank to death by revoking its deposit insurance.

COLORADO:  A Colorado plan to set up the world’s first financial system for marijuana survived less than 24 hours before state lawmakers changed course Thursday night and shelved the idea. The proposal would have allowed state-licensed marijuana businesses to create a financial co-op, sort of an uninsured credit union. The measure was introduced late Wednesday Read the full article…

Debate: Is The Legalization Of Marijuana Inevitable?

As states loosen marijuana laws, the consequences for noncitizens remain as strict as ever.

First, 20 states and the District of Columbia passed laws legalizing marijuana for medical use. Then in 2012, voters in Washington state and Colorado approved measures legalizing the sale and possession of marijuana for non-medical use, with state oversight. Now at least a half-dozen states from Alaska to Maine are considering following suit. Marijuana still Read the full article…