Silhouette
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- Jul 15, 2013
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Hmmm.... Interesting: Banks take on Sessions over legalized pot
Yes, but that will take an act of all 50 states agreeing since banks by and large are under federal restrictions on trade. Especially with cartels.
I have a friend who used to work for a bank insured by the FDIC. I assure you, there is no ambiguity about banks doing business with people trading federally illegal, unregulated drugs.
Answer the poll. Discuss.
Even Jerome Powell, chairman of the Federal Reserve, is pushing for action on the issue.
“This is a very difficult area,” Powell said during a press conference this week. “It puts federally chartered banks in a very difficult situation. It would be great if that could be clarified.”...
Yes, but that will take an act of all 50 states agreeing since banks by and large are under federal restrictions on trade. Especially with cartels.
The American Bankers Association believes “the time has come for Congress and the regulatory agencies to provide greater legal clarity to banks operating in states where marijuana has been legalized for medical or adult use,” a spokesman said.
“Those banks, including institutions that have no interest in directly banking marijuana-related businesses, face rising legal and regulatory risks, and ever increasing ambiguity and uncertainty, as the marijuana industry grows,” the spokesman said. The ABA’s membership includes thousands of large and small banks.
I have a friend who used to work for a bank insured by the FDIC. I assure you, there is no ambiguity about banks doing business with people trading federally illegal, unregulated drugs.
Answer the poll. Discuss.