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To: Morgan in Denver

I also heard/read they got it resolved; however, I saw this earlier this morning (just like everything else this Admin does - a mess):

Banks warned they risk prosecution if they follow Obama admin. guidance on marijuana
The Washington Times ^ | February 14, 2014 | Valerie Richardson

Posted on Saturday, February 15, 2014 9:40:49 PM by 2ndDivisionVet

DENVER — Bankers should beware of the Obama administration’s newly issued green light for banks doing business with the legal marijuana industry, according to the head of the Colorado Bankers Association.

Memos released Friday by the Justice Department and Treasury Department’s Financial Crimes Enforcement Network were intended to give banks leeway to open accounts for marijuana businesses in states like Colorado and Washington that have legalized retail pot. Instead, the guidance “only reinforces and reiterates that banks can be prosecuted for providing accounts to marijuana related businesses,” said the CBA in a Friday statement.

“In fact, it is even stronger than original guidance issued by the Department of Justice and the Treasury,” said CBA president and CEO Don Childears. “After a series of red lights, we expected this guidance to be a yellow one. This isn’t close to that. At best, this amounts to ‘serve these customers at your own risk’ and it emphasizes all of the risks. This light is red.”

Colorado’s first-ever legal marijuana market, which kicked off Jan. 1, has been hampered by a lack of access to bank accounts and small-business loans. Many of the state’s retail pot shops are cash-only enterprises, making them vulnerable to crime....

(Excerpt) Read more at washingtontimes.com ...
http://www.freerepublic.com/focus/f-news/3123532/posts


189 posted on 02/16/2014 10:21:07 AM PST by Seattle Conservative (God Bless and protect our troops)
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To: Seattle Conservative

If you’re interested, there’s a Drudge type website for Colorado. Pretty good site that covers the state.

http://completecolorado.com/


196 posted on 02/16/2014 10:39:11 AM PST by Morgan in Denver (Democrats: The party of unintended consequences.)
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