Monday, April 07, 2014

TanyaFree.com Weekly Poll

The Obama administration has given the banking industry the green light to finance and do business with legal marijuana sellers. For the first time, legal distributors will be able to secure loans and set up checking and savings accounts with major banks.Banks must confirm that their marijuana clients are licensed and registered with their states and ensure that their activities would not violate state laws or trigger enforcement actions by the Justice Department, among other recommendations from the Treasury Departments’ Financial Crimes Enforcement Network.Two senators have challenged the Treasury Department’s authority to “offer regulatory guidance on illegal activity.” The senators’ letter contends that “until federal law is changed, selling marijuana, laundering marijuana proceeds, and aiding and abetting those activities all remain illegal.”


What’s Your Take? Should the federal government be in the business of advising banks on how to deal with marijuana money?



 




Comments

1. Reynard said...

Not concerned about this administration that has decided to honor the states' law but what happens if the Crazy GOP happens to win the next presidential election. All bets are off

2. ManChild said...

The hen watching the chicken coop?

3. Jesse said...

We need to focus on changing Federal Law

4. RobertBrown said...

Good First step but unless federal laws are changed, more Black people are going to get locked up.

5. long time listener said...

Not an ideal situation ,but who else?

6. Babs said...

Nice buds

7. Brian said...

No and the government should not be in bizness of selling weed either.

8. Gerald said...

I agree with the senators. How can the federal laws be changed.I believe marijuana should be legal and the thousands who are locked up for simply possessing should be released.I don't trust the next justice department to look the other way.

9. long time listener said...

Agree with Reynard.This is gonna get messy after Holder and Obama are history.

10. Willie Carlisle said...

I think they should give some sort of guidance due to the fact that on the federal level marijuana is illegal. Most new laws are tested on the state level and the feds have to play catch up. At least this way the merchants know that the feds won't bust their door down and confiscate their inventory.



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