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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSenators Vote To Block Marijuana Banking Amendment
https://www.forbes.com/sites/tomangell/2018/06/21/senators-vote-to-block-marijuana-banking-amendment/#2d2177453ff3A powerful U.S. Senate panel has moved to block an amendment to let marijuana businesses store their profits in banks.
In a 21 - 10 vote, the Senate Appropriations Committee table an amendment on Thursday that would have shielded financial institutions that open accounts for cannabis businesses that are complying with state laws from being punished by federal regulatory authorities.
Current policy, which forces many marijuana businesses to operate on an all-cash basis, is "a big problem because it's great for organized crime, it's great for money laundering, it's great for theft and larceny, it's great for cheating on taxes, it's great for cheating on your payroll," Sen. Jeff Merkley (D-OR), the sponsor of the measure, said in a brief debate before the vote. "We're really facilitating crime by not enabling the banking industry to provide basic services."
Last week, the House Appropriations Committee defeated a similar cannabis banking proposal.
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Senators Vote To Block Marijuana Banking Amendment (Original Post)
jpak
Jun 2018
OP
Crutchez_CuiBono
(7,725 posts)1. I thought the PAST
Spkr of The House was on board w this stuff? When the govt. is there to punish their electorate rather than making our lives better, they need to go. The entire country of Canada has gotten the point.
ghostsinthemachine
(3,569 posts)2. This fucking sucks. Fucking fucks.
So, the stores remain robbery targets because they have to keep cash in their mattresses.
rickford66
(5,524 posts)3. They should start their own bank.
Immigrants did it. Wasn't Bank Of America started that way?