Skip to comments.Colorado lawmakers shy away from pot bank
Posted on 05/01/2014 9:03:02 PM PDT by Olog-hai
Colorado plan to set up the worlds 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.
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Oh, yeah, the other states would love that.