you can usually find me in the 600.
things are looking up. One more obstacle is removed.
DOJ allows banks to do limited business with legal marijuana sellers
Published February 14, 2014
• FoxNews.com
The Justice Department took the unprecedented step Friday of clearing the way for banks to do limited business with marijuana sellers, releasing guidelines for how banks can work with pot shops in states where it's legal.
The new memo is designed to dovetail with legal guidance the Justice Department issued last year to federal prosecutors. In that document, Deputy Attorney General James Cole outlined eight instances where federal authorities would still investigate and prosecute marijuana sales. Under the latest guidelines, banks would also be prohibited from dealing with sellers engaged in any of those illicit activities.
Friday’s guidance is intended to increase availability of financial services for legal marijuana businesses. But it still preserves the government's power to enforce criminal laws.
“These guidelines, together with the Treasury Department’s guidance to financial institutions, are intended to increase the availability of financial services for marijuana businesses – that are licensed and regulated – while at the same time preserving and enhancing important law enforcement tools,” a Treasury Department spokesperson said in a written statement.
Washington state and Colorado became the first states in the country to approve recreational use of pot. There is currently a push to make Alaska the third state to do so
cof
