Marijuana Money: In The Bank


Published 02/17 2014 01:25PM

Updated 02/17 2014 01:27PM

(KUSA) The federal government responded on Friday to the most important issue confronting Colorado's newly legal marijuana industry: Difficulty getting bank accounts.

The Justice Department and US Treasury published a pair of memos aimed at easing concerns that banks have in doing business with marijuana companies.

Banks are regulated by the federal government, and federal law still bans the use and sale of marijuana. 

Banks fear punishment from regulators or even prosecution for racketeering if they do business with the pot industry.

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