Skip to comments.The US Is Now Encouraging Banks To Do Business With Licensed Pot Dealers
Posted on 02/14/2014 7:44:37 PM PST by SeekAndFind
The Obama administration on Friday issued new law-enforcement guidelines aimed at encouraging banks to start doing business with state-licensed marijuana suppliers, like those in Colorado, even though such enterprises remain illegal under federal law.
Administration officials said the policy shift seeks to address problems faced by newly licensed recreational marijuana retailers in Colorado, and medical cannabis dispensaries in other states, that must operate on a cash-only basis, without access to financial services or credit.
It remained to be seen whether many banks would feel sufficiently assured by the new policy, which the Justice and Treasury departments outlined in writing to federal prosecutors and financial institutions nationwide.
(Excerpt) Read more at businessinsider.com ...
It’s the law until Obama decides to change it.
First he tells insurance companies to ignore the law now he’s telling the banks to. Coup, anyone?
The LAW says they can’t do it.
OBAMA says they can.
Any banker who follows Obama’s shoot from the hip dictatorial policy rather than law could face prosecution. The statute of limitations may be longer than Obama’s tenure.
They can follow Obama now and follow him to jail later.
The Great Choomer is building a Choomer nation.
People blown away on dope are easy to handle and vote the right way as long as they get their dope and munchies.
No one understands that better than Obama.
Of course all those financial records will be swell evidence in court when this or another administration decides to change their policy or selectively prosecute some particular individuals.