Ridiculous, is their money not green too.
since MJ is still illegal under federal law, the proceeds from its sale are
still illicit under federal law. Financial institutions are required to file
suspicious activity reports (SAR) when the proceeds from illicit activities are
deposited. Would the onus to file those reports fall then on these new state
chartered co-ops? The Federal Reserve still has to grant the co-ops access to
the payment system. Who files the SAR, the co-op or the institution providng
access to the payment system?
If the proceeds from the sale of marijuana are illegal according to federal law,
doesn't that mean that, at a minimum, the treasurer and governor of
Colorado are comitting crimes because they are taking a cut from the proceeds of
the sales?Why is the DOJ ignoring this obvious crime?
Rocky Mountain High - I wonder if John Devner knew that this song would have a
dual meaning for the state of Colorado? Colorado is turning in to a hippie
utopia and as a result the laughing stock of the country. A state full of dope
smok'en hippies - has to do wonders for Colorado's economic future.
I'm certain a state filled with pot is certainly going to attact young
families and great corporations.
Rather than investing in banks supporting this type of activity, you would be
better off investing in Doritos. We have already begun to see casualties from
this experiment in social laxity. It will only get worse.