Marijuana Co-Op Finance Bill Refuses To Die In Colorado Statehouse

The bill puts a twist on the credit-union model by creating cannabis credit co-ops for licensed pot businesses and their affiliates who are currently blocked from the traditional banking system because of federal prohibitions on marijuana.

COLORADO:  A late bill to create co-ops to finance the marijuana industry has come back from a near-death experience. House Bill 1398 got off to a strong start Thursday in the House Business Committee, only to get gutted late that evening in the House Finance Committee before House Appropriations restored the original version Friday morning Read the full article…

Department of Justice Actively Considering How to Allow Bank, Pot Shop Transactions

It is difficult to argue that any system that operates only in cash could be a "tightly regulated market in which revenues are tracked and account for."

DISTRICT OF COLUMBIA: The Department of Justice is “actively considering” how to regulate interactions between banks and marijuana shops that operate within state laws and don’t violate other federal law enforcement priorities, Attorney General Eric Holder told the governors of Washington and Colorado in a joint phone call Thursday, according to a DOJ official.