Big news! Banks have been cleared to do business with MMJ

[Unclebaldrick]

Wow. A friend in the banking industry just let me know that a new edict came out today that will allow bankers to begin doing business with dispensaries and such.

Prior to today, any US bank doing business with our ilk risked losing their charter. But from now on banks have been instructed that their only requirement is to file a "low concern suspicious activity" report.

I don't know how widespread this is (or even true - although I suspect with great certainty that it is), but it would be a huge step forward.

Hooray!

 

[vostok]

So I can sell all my houses at last and close up my Canadian bank accounts too, no thanks ...plus the boys in Mapleland give far better return and are private,...only Cuba's better, but not so high in the interest

 

[dr.gonzo1]

So I can sell all my houses at last and close up my Canadian bank accounts too, no thanks ...plus the boys in Mapleland give far better return and are private,...only Cuba's better, but not so high in the interest

Shit, this dude vostok is super, super serial guys. Do you really think he's gonna just up and sell all his houses? Ha, fools. Bet your bank isn't so high in the interest.

 

[Unclebaldrick]

So I can sell all my houses at last and close up my Canadian bank accounts too, no thanks ...plus the boys in Mapleland give far better return and are private,...only Cuba's better, but not so high in the interest

Uh, ok. ... ...

 

[dannyboy602]

I can't say I didn't see this coming. Pressure now to allow banks in so they can make money on the gold rush.

 

[Unclebaldrick]

Well it's true. Read it on the American Bankers Association website.

Ring the dinner bell. "we welcome your caregiver dollars"

 

[randybishop]

Great news for med clinics!

 

[mr sunshine]

So your saying I can walk into a bank and get a loan for a few lbs I wanna cop off my homie Ricky?ill answer my own question!!!! No

 

[MrEDuck]

I read the statement and if I was a banker it wouldn't reassure me at all. My interpretation was that it said you can let them open accounts but you do so at your own risk and we're watching you closely.

 

[pabloesqobar]

^^^^What he said.

"After a series of red lights, we expected this guidance to be a yellow one," said Don Childears, president and CEO of the Colorado Bankers Association. "This isn't close to that. At best, this amounts to `serve these customers at your own risk' and it emphasizes all of the risks. This light is red."

 

[racerboy71]

I read the statement and if I was a banker it wouldn't reassure me at all. My interpretation was that it said you can let them open accounts but you do so at your own risk and we're watching you closely.

where's that damn liked button when i need it?? i agree.. i stole this off of another thread on same topic.

http://cloudfront-assets.reason.com/...6500993160.pdf

In a press release issued on Friday, Don Childears, president of the Colorado Bankers Association (CBA), does not sound grateful for the new guidance:
After a series of red lights, we expected this guidance to be a yellow one. This isn't close to that. At best, this amounts to "serve these customers at your own risk," and it emphasizes all of the risks. This light is red.


it pretty much reads to me that the feds have told banks they can deal with mmj money, but they're still being held under the same laws that say they can't take money from drug profits, and that the feds will be watching very closely what they're doing, and will prosecute and take monies as they see fit..

not really anything to be grateful for imvho..

 

[bendoverbilly]

So I can sell all my houses at last and close up my Canadian bank accounts too, no thanks ...plus the boys in Mapleland give far better return and are private,...only Cuba's better, but not so high in the interest

Bullshit put your money in Cuba and see were it gets you.

 

[bendoverbilly]

Great news for med clinics!

Med clinics, caregivers, patients. The biggest amount of bullshit to come down the pike in 40 years. Comes down to Cartels, dealers and pot heads. To sugar coat it any other way is an alice in wonderland fantasy.