Bernie Sanders criticizes banking regulator over pot policy

[portlander23]

Bernie Sanders criticizes banking regulator over pot policy
Tim Devaney
The Hill

Sen. Bernie Sanders (I-Vt.) and several of his colleagues are taking federal regulators to task over a controversial marijuana policy that prevents companies linked to the fledging industry from opening bank accounts.

The policy “creates a huge target for criminals,” the bipartisan group of senators in a letter to the Financial Crimes Enforcement Network.

The letter was also signed by Sens. Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), Lisa Murkowski (R-Ak), and several other senators.

“This business environment is an invitation to tax fraud, robberies, money laundering, and organized crime,” they added.

This one really is a no-brainer. Several states have voted to allow the sale of marijuana. Preventing people from doing business legally will just increase illegal activity.

[elleng]

1. Haven't studied this. Maybe Sens Sanders and Warren have, but

I suspect problem arises due to FED govt's 'policy' and law re: marijuana.

Marijuana to remain illegal under federal law, DEA says.

'Marijuana will remain a Schedule 1 substance under the Controlled Substances Act. Substances in Schedule 1 are determined by the Food and Drug Administration to have no medical use. States that allow marijuana for medical use or legalize recreational use remain in defiance of federal law.

The announcement to be published Friday in the Federal Register relaxes the rules for marijuana research to make it easier for institutions to grow marijuana for scientific study. The DEA currently authorizes just one grow facility in Mississippi.

In reaching its conclusion, the DEA said a Health and Human Services evaluation shows marijuana has no ‘‘currently accepted medical use’’'>>>

http://www.usatoday.com/story/news/2016/08/11/dea-marijuana-remains-illegal-under-federal-law/88550804/

HENCE, difficult logically and 'legally' to permit those selling to open bank accounts. There SHOULD be a resolution.

[mopinko]

2. not only that. this fuels the fear of crime surrounding dispensaries.

we are debating a perfectly legal, and pretty correctly zoned dispensary right near me. this has been brought up over and over as the source of fear that it will bring crime.
they arent worried about extra legal sales. they arent worried about the patients. they are worried that there is a large amount of cash involved. even tho there will be an atm inside, so patients dont have to carry cash in, there is still that till full of cash that has to go somewhere not a bank.

it is stupid.