banking

Pot Banking
7:23 am
Wed September 11, 2013

Feds Working To Address Pot Banking Snag

A federal law enforcement official says the government is working to address a ban on banks taking on marijuana businesses as clients. As it stands, when pot stores come to Washington they won’t be able to deposit their money in a bank or accept credit cards. That’s because the pot business, still illegal under federal law, is off limits to federally regulated banks. King County Sheriff John Urquhart told a U-S Senate committee Tuesday that businesses that deal only in cash present problems for police.

Read more