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Feds Say They Will Go Easy on Banks

September 1st

During the groundbreaking phone call on Thursday, August 29 in which U.S. Attorney General Eric Holder told the governors of Colorado and Washington the federal government would not attempt to intercept regulated legal marijuana in their states, he also said the Department of Justice (DOJ) is “actively considering” how to oversee the relationship between banks and marijuana shops.

According to the Huffington Post, Holder told the governors as long as marijuana shops “operate within state laws and don’t violate other federal law enforcement priorities” the DOJ is looking to regulate those interactions as legal.

Rep. Ed Perlmutter (D-Colo.), a senior member of the House Financial Services Committee, released a statement on Thursday calling for a hearing to discuss his proposed bill, Marijuana Businesses Access to Banking Act (HR 2652). In the statement, he raised concerns over “public safety, crime, and lost tax revenue associated when these legal and regulated businesses are operating in a cash-only system.”

He continued:

“We need to provi. . . . . READ MORE

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