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Cannabis Banking Laws That Work. Maybe Soon

Nothing much really new in this Fox News article, Colorado's pot tax revenues could go up in smoke, says lawmaker, but it does a really nice job in laying out the banking issues legal cannabis businesses are facing. The article explains why the lack of banking for marijuana businesses is causing problems for both the businesses themselves and the states that would like to collect taxes on marijuana revenues. It also provides a concise update on where the federal government (as relayed by Eric Holder) stands on all this.

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Big Bank Says “Yes” To Cannabis Money. Sort Of.

Bank of America (BOA) recently stated that it has no issue with accepting I-502 money from the State of Washington. BOA seems confident that it won’t be violating any federal banking laws by handling the State’s pot dollars. Washington State Treasurer, Jim McIntire, said that he is “not too worried about it [the Federal Government],” and that “[i]t’s