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Colorado lawmakers shy away from pot bank
Associated Press ^ | May 1, 2014 10:57 PM EDT | Kristen Wyatt

Posted on 05/01/2014 9:03:02 PM PDT by Olog-hai

Colorado plan to set up the world’s first financial system for marijuana survived less than 24 hours before state lawmakers changed course Thursday night and shelved the idea.

The proposal would have allowed state-licensed marijuana businesses to create a financial co-op, sort of an uninsured credit union.

The measure was introduced late Wednesday and cleared a House committee on Thursday. But a few hours later, another House committee gutted the plan by amending the bill to say that Colorado will continue studying the problem of marijuana businesses having a hard time accessing banking services. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Colorado
KEYWORDS: cannabis; cannabisbank; creditunion; financialsystem

1 posted on 05/01/2014 9:03:03 PM PDT by Olog-hai
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To: Olog-hai

Oh, yeah, the other states would love that.


2 posted on 05/01/2014 11:27:11 PM PDT by familyop
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