Posted on 09/02/2011 9:15:56 PM PDT by george76
Colorado Springs State Bank was last in state publicly doing business with the industry .
The last bank in the state of Colorado that was publicly doing business with the medical marijuana industry decided it will be closing all of those accounts by the end of September, leaving dispensaries across the state scrambling.
The Colorado Springs State Bank sent out a letter last week to its medical marijuana account holders requesting them to have their bank accounts closed by Sept. 30.
"There are unresolved issues with regulations, law enforcement and other agencies that need to get resolved before the industry can progress and become bankable," said John Whitten, senior vice president of Colorado Springs State Bank.
...
The bank was the last in Colorado publicly soliciting accounts from the medical marijuana industry
(Excerpt) Read more at dailycamera.com ...
A City that is paid by government more than any other I’ve seen. And I’ve seen more than a few. ;-)
It appears that there aren’t enough rich young folks buying that uber-expensive tourist dope.
U.S. attorneys warned that even state employees could be subject to prosecution for their role in marijuana regulation.
state workers who are involved in approving and regulating the sale of an illegal drug are also committing a Federal crime.
Banks do not want to get visits [ or worse ] from U.S. attorneys
IMO it is the feds who are committing the crime by exceeding their lawful authority. They require a Constitutional Amendment to act as they do in these matters, and for lack of it they lack legitimacy and lawfulness in their actions.
Dunno about you, but in my life the feds exceeding their authority has far more of an impact than all the dope smokers combined.
Marijuana industry aka Mexican drug cartel now open for business in America.And people say politicians are on the take who knew?.
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