Department of Justice to Create Marijuana Industry Banking Regulations

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Dispatches from the Highlands

Marijuana news from contributing authors and staff writers on the latest in marijuana and medical marijuana

October 24, 2016
Denver, CO
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Attorney General Eric Holder

On Thursday, Attorney General Eric Holder announced his intent to craft regulations that would allow banking services for legitimate marijuana businesses throughout the country. Banks and credit card companies have been wary of working with marijuana businesses for fear of federal prosecution and loss of licensing, causing serious issues with public safety and hampering the growth of the industry. Advocates are hopeful that this statement directly from Holder, proposing regulations instead of guidance memos, signals a growing tolerance of marijuana policy reform among the states.

MPP’s Dan Riffle discussed the issues facing marijuana businesses on Marketplace on NPR this morning.

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