marijuana banking

Marijuana Banking
4:11 pm
Wed July 16, 2014

House Votes To Allow Marijuana-Related Banking

This July 1, 2014, photo shows packets of a variety of recreational marijuana named "Space Needle" during packaging operations at Sea of Green Farms in Seattle.
Ted S. Warren AP Photo

The House voted Wednesday in support of making it easier for banks to do business with legal pot shops and providers of medical marijuana.

The 236-186 vote rejected a move by Rep. John Fleming, R-La., to block the Treasury Department from implementing guidance it issued in February telling banks how to report on their dealings with marijuana-related businesses without running afoul of federal money-laundering laws.

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Marijuana Banking
11:07 am
Fri February 14, 2014

Feds Clear Way For Banks To Do Business With Marijuana Industry

File image
AP Photo

Marijuana businesses in Washington may soon be able to open a bank account. The Obama administration on Friday issued new guidance to banks regarding drug proceeds.

The three-page memo by the Department of Justice signals that banks that do business with licensed, above-board marijuana businesses likely won’t face prosecution.

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