Search Results: banks (117)

The flag of New Mexico

It’s for her sick child.

The following is excerpted from the newsletter WeedWeek. Get your free and confidential subscription at WeedWeek.net.

New Mexico mom Nicole Nuñez is suing the state over “arbitrary” supply limits. Nuñez’s eight month old daughter has a seizure disorder. A Michigan judge ruled that seedlings count as plants.

The four Colorado doctors suspended for overprescribing large plant counts will have to go through administrative hearings to try and get their licenses reinstated.  A judge tossed out a lawsuit they filed.

For years, financial hassles have forced a multimillion-dollar industry to rely almost entirely on cash and to keep any bank accounts under hush-hush names because fed-fearing financial institutions are wary of doing business with state-legal pot shops. But dispensaries in Colorado are finally seeing a ray of hope, now that a marijuana banking co-op that received its charter from the state is moving forward with plans to open in the new year.

Despite the passage of new laws making the possession of small amounts of pot legal in Alaska, prosecutors in the state say they’ll still be pursuing cannabis cases until the new laws are signed and on the books.
In other states like Washington and Colorado, prosecutors began dropping minor possession cases even before the governor signed the bill into law – arguing that they wouldn’t be able to take the case to trial, nor would they want to waste the resources. It’s what they community they serve clearly demanded they do with the vote. But apparently, the cops and prosecutors don’t care about respecting the people they serve in Alaska.


Too lazy to get off the couch to pick up your pot? Soon, you’ll be able to order your weed with the tap of a finger.
The app Nestdrop, which already delivers alcohol on demand, is expanding to marijuana with a soft launch in L.A. at the end of October. Co-founder Michael Pycher says the app will offer delivery, within the hour, for valid patients in a broad area between Downtown, Manhattan Beach and Encino/Tarzana.

Evan Amos/Commons.


A joint effort by the U.S. Attorney Office of South Florida, the Miami Police Department, and the Bureau of Alcohol, Tobacco, Firearms and Explosives resulted this week in the arrest of 21 members of a gang known as the Big Money Team.
The gang operated in the Little Havana and Allapatah neighborhoods and had their hands in everything from guns, crack cocaine, Molly, marijuana, and prostitution to armed robberies, assaults, car jackings, and intimidating locals. And yes, they had some sweet nicknames.


Ever since the legitimized cannabis commerce became a reality in the United States, pot peddlers and other weed-slinging warriors in the medicinal and recreational sector have been challenged to track down lenders that do not have gnawing fear of being gang raped in a federal penitentiary to help finance their ventures. This is because traditional banking institutions have flat-out-refused to walk that fine line where the possibility exists that Uncle Sam could show up at their front door, label them money launderers, and then cart the president of the bank off to the nearest tattoo parlor to have a set of giant set of tits branded across his shoulders.
It is for this reason that unconventional lending services have become increasingly more attractive for ganjapreneurs scouring the planet for someone willing to give them a small business loan. And while the majority of these lenders typically market themselves as stiff collared elitists with a nubby chubby for dicey business deals, the newest lender to emerge on the scene pulls no punches regarding its intentions – it aims to profit by lending money to sleazy bastards all across the nation.


The U.S. House voted yesterday to allow access to banking for state-legal medical and recreational pot businesses. Currently, most banks turn away dispensary and recreational shop accounts due to marijuana remaining federally illegal. Those with accounts are forced to handle large amounts of cash as banks aren’t issuing credit cards or other normal banking services.


Colorado legislators have tried for years to find a state-centric solution to federal banking regulations as they apply to marijuana — rules that have forced many shops to deal mainly in cash. But previous efforts have failed, and many observers thought this year’s attempt at laying the groundwork for so-called marijuana co-operatives would meet the same fate. But the bill passed — barely — and awaits Governor John Hickenlooper’s signature.
What’s the measure do? Will co-ops ever come to pass? Or is the effort mainly symbolic? Here’s what Representative Jonathan Singer, the bill’s sponsor, has to say:


Banks in the United States love money, except marijuana money. For years state-legal marijuana operations have struggled to find banks that will take their accounts out of fear of federal action for supporting a federally illegal industry.
Those issues may now be a thing of the past in Colorado at least, as the state legislature yesterday gave approval to a Colorado pot credit union of sorts, that will give medical and recreational marijuana businesses access to otherwise normal banking services.

DopeCoin.com

Medical and recreational cannabis is big business in several states, but dispensaries and customers are increasingly only able to accept and use cold, hard cash as banks refuse credit accounts for fear of federal prosecution.
But two software developers say they are working around that problem by creating the first digital currency targeted specifically for state-legal pot businesses.

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