LATEST NEWS

Legal marijuana’s all-cash business and secret banking


April 29, 2013: 3:56 PM ET
By Jose Pagliery @CNNMoney
Source: money.cnn.com

Legal marijuana is an all-cash business, because banks and credit card companies won’t service the industry, even in states where it’s legal.

In response, when pot businesses deal with banks, it’s usually in disguise. That’s just one byproduct of the nation’s ...

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House Minority Leader Nancy Pelosi talks budget, guns, pot in Denver

Posted:   03/11/2013 07:17:02 PM MDT
Updated:   03/11/2013 09:03:51 PM MDT

By Electa Draper
The Denver Post

House Minority Leader Nancy Pelosi calls the congressional impasse on deficit reduction a values debate that boils down to “big oil v. little children.”

“We all know we ...

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Top Doctors Association Says “YES” to Medical Marijuana in Historic Endorsement

by Phillip Smith, February 20, 2008, 11:00pm, (Issue #524)

In a position paper, a leading American medical association has endorsed the medicinal use of marijuana, called for more studies of its medical uses, and urged the US government to get out of the way. The position paper from the American College of Physicians was released last Friday after being approved by the group’s governing body.

The American College of Physicians (ACP) is the nation’s second largest ...

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Holder: Feds to set pot legalization response ‘relatively soon’

http://www.politico.com/blogs/under-the-radar/2013/02/holder-feds-to-set-pot-legalization-response-relatively-157895.htm
By JOSH GERSTEIN | On the Courts, Transparency and More
2/26/13 11:43 AM EST

The federal government is nearly ready to announce how its law enforcement personnel and prosecutors will respond to the decision Colorado and Washington voters made in November to legalize marijuana use in their states, Attorney General Eric Holder said Tuesday.

“We’re still in the process of reviewing both of the initiatives that were passed,” Holder said at a morning appearance, answering a question from Colorado Attorney ...

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Drug Laws Ease but Bankers Still Say ‘No’ to Dealers

AMERICAN BANKER
Matt Villano
FEB 1, 2013
http://www.americanbanker.com/magazine/123_2/drug-laws-ease-but-banks-stay-straight-1055758-1.html?zkPrintable=true

As entrepreneurs go, John Davis is pretty much run of the mill. He strives to keep his customers happy. He wants to grow profit. He pays his taxes.

Perhaps the one remarkable aspect of his Seattle business, the Northwest Patient Resource Center, is what it sells: marijuana.

As a medical distributor of the drug, Davis has been in business legally for several years already. But it’s still hard for an outfit like his to embark ...

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