Tuesday, February 18, 2014

Banks in states that legalize pot use can now work with marijuana businesses

In 2012, HSBC was busted by U.S. and international regulators for laundering drug money for global cartels.  A year later, they were imposed a $1.9 billion fine, but rumors abound that the financial institution is still providing services to criminal organizations despite their guilt and penalty.

So with this precedent in place, it is quite interesting to see on Feb. 14 that regulators within the Obama administration have now ruled that banks that service states with legal marijuana laws can now do business with the sellers of pot, and without the threat of criminal prosecution.

Read more on this article here...


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