ALJAZEERA: Attorney General Eric Holder said Thursday that the Obama administration plans to roll out regulations soon that would allow banks to do business with legal marijuana sellers…
Currently, processing money from marijuana sales puts federally insured banks at risk of racketeering charges. Because of the threat of criminal prosecution, financial institutions often refuse to let marijuana-related businesses open accounts…
“You don’t want just huge amounts of cash in these places,” Holder told the audience at the University of Virginia. “They want to be able to use the banking system. And so we will be issuing some regulations I think very soon to deal with that issue.” … (more)
