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Banks Warned They Risk Prosecution If They Follow Obama Admin Guidance on Marijuana
Posted By kit On February 15, 2014 @ 11:27 am In Old Infowars Posts Style,Tile,U.S. News | Comments Disabled
The Washington Times
February 15, 2014
Memos released Friday by the Justice Department and Treasury Department’s Financial Crimes Enforcement Network were intended to give banks leeway to open accounts for marijuana businesses in states like Colorado and Washington that have legalized retail pot. Instead, the guidance “only reinforces and reiterates that banks can be prosecuted for providing accounts to marijuana related businesses,” said the CBA in a Friday statement.
“In fact, it is even stronger than original guidance issued by the Department of Justice and the Treasury,” said CBA president and CEO Don Childears. “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.”
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