DENVER (AP) -- Colorado Gov. John Hickenlooper is responding with relief to word from federal officials that marijuana businesses will be allowed to access banking services.
Attorney General Eric Holder said Thursday that the Obama administration is planning to roll out regulations soon that would allow banks to do business with legal marijuana sellers.
Hickenlooper's spokesman released a statement Friday morning saying the news is welcome. Spokesman Eric Brown says Colorado hopes the guidance is specific.
Currently, processing money from marijuana sales puts federally insured banks at risk of drug racketeering charges.
Because of the threat of criminal prosecution, financial institutions often refuse to let marijuana-related businesses open accounts.
KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.powered by Disqus