Marijuana Money: In The Bank

Marijuana Money: In The Bank

Feds loosen marijuana banking rules allowing financial institutions to do business with marijuana growers and sellers.
(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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