Marijuana Banking: Secretive But Poised To Grow

http://mjnewsnetwork.com/legal/wa-gov-inslee-to-sign-bill-changing-medical-marijuana-rules/

WASHINGTON: Many marijuana business owners say they have bank accounts, but aren’t completely forthright with their bankers about the nature of their businesses. They claim to be in “consulting” or “medical research.”  And they know they could lose those bank accounts suddenly, at any time, since federal law prohibits banks from holding any funds associated with Read the full article…

Banks Get A Primer On Pot Money

A team of nine “fact finders” are in Colorado to study the effects of marijuana legalization in that state.

DISTRICT OF COLUMBIA:  The Obama administration, taking the first regulatory step to accommodate the country’s growing state-approved marijuana businesses, issued guidelines Friday designed to bring dispensaries into the banking system and end their risky reliance on stashing large amounts of cash. The step was a cautious one, reflecting conflicting pressures on the administration. On one Read the full article…