U.S. Rep.: Did FDIC force MBank to pull offer to bank Colorado pot shops?
A congressman is demanding to know what role a federal banking regulator had in the quick withdrawal of Oregon-based MBank`s offer to take on Colorado-based marijuana businesses.
U.S. Rep. Earl Blumenauer, D-Oregon, said he was ``disheartened`` to read a Denver Post story that described MBank`s decision to pull out only a week after it had announced it would bank legal pot businesses in Colorado.
``The article alluded to pressure from the Federal Deposit Insurance Corporation as a factor in MBank`s decision,`` Blumenauer wrote FDIC Chairman Martin Gruenberg on Thursday. `....
Edibles fire sale: Why pot-infused treats are so cheap
New edibles regulations that go into effect Sunday have made many edibles companies more conservative with dosing sizes. (image:Craif F. Walker, The Denver Post)
Colorados pot industry will face its first major regulatory shift of 2015 on Sunday when popular but controversial infused edibles will be forced to comply with new packaging, labeling and potency restrictions passed last year.
New edibles regulations
Packaging: Each standardized 10-milligram serving must be demarked in a way that enables a reasonable person to intuitively determine how much of the product constitutes a single serving of active THC.
Labeling: There will be more explicit warnings and thorough information on labels, including warning statements such as This....
New Attorney General Would Not Change Obamas Marijuana Policy
Loretta Lynch is the nominee to replace outgoing United States Attorney General Eric Holder. There has been a lot of buzz surrounding her stance on marijuana, with some outlets erroneously stating that she disagrees with Obama when it comes to marijuana policy. The truth is, if confirmed, Loretta Lynch would not push for any changes to Obamas current policies. The feds will allow states to proceed with marijuana legalization, however they reserve the right to step in and prosecute people that they sit fit. She will not push for marijuana legalization. Per Tom Angells articl....
Loretta Lynch Says She Doesn`t Support Marijuana Legalization Or Obama`s Views On Pot
(image:Bill Clark Getty Image)
Loretta Lynch, the nominee for attorney general, said Wednesday during her confirmation hearing that she does not support the legalization of marijuana, and that she disagrees with President Barack Obama`s remarks about the drug being no more dangerous than alcohol.
During her hearing before the Senate Judiciary Committee, Sen. Jeff Sessions R-Ala. asked, ``Do you support the legalization of marijuana?``
``Senator, I do not,`` Lynch replied.
Sessions then went on to quote a 2014 New Yorker profile of Obama in which the president discussed his marijuana use as a young per....
Marijuana Legalization Under Attack In Alaska And Oregon
Last time I checked, we live in a democracy. America is a country where some states have initiatives, and if those initiatives pass on Election Day, they become law. That applies to just about every public policy area, except marijuana policy. During the 2014 Election, voters in Alaska and Oregon passed marijuana legalization initiatives. If the initiatives were for anything else, they would become law with little to no changes, and no one would think twice about it.
However, elected officials in both states are trying to trample on the will of voters by proposing major ch....
Several hundred elite investors gathered at the Fairmont Hotel in San Francisco today for a two-day shark tank event to fund and grow the next legal cannabis businesses.
Dubbed the Arc Tank and organized by marijuana angel investment firm The ArcView Group from the Bay Area, about 30 startups and existing canna-businesses planned to pitch investors at the invite-only, members-only event.
Keynote presenter Justin Kan creator of Twitch TV which recently sold to Amazon for close to a billion dollars and is a partner in Y Combinator will give a talk on investment strategy.
Marijuana just keeps growing. That`s a weak attempt at a punny metaphor for which I apologize hey, I could have used some variation such as ``growing like a weed,`` so I did exercise a little restraint, but its deeper meaning is that marijuana is actually outgrowing such cheap jokes and entering the realm where it demands to be taken seriously -- especially by politicians. Marijuana is now the nation`s fastest-growing industry. The legal marijuana industry brought in $2.4 billion last year, so it`s certainly no longer any sort of laughing matter. That figure represents an i....
Oregon bank stops working with Colorado pot industry
(image:Craig F. Walker, Denver Post file)
The Oregon community bank that a week ago openly welcomed Colorado marijuana industry customers has changed its mind, publicly saying it doesnt have the infrastructure to handle the overwhelming response for service.
But people familiar with the move say the retreat was pressed by federal banking regulators who stepped in late last week to tell MBank executives that crossing several states to work with an industry that remains illegal under federal law was simply too risky.
Following national press, the volume of inquiries in Oregon, Washington and Colorado has been so ov....
Seven States That Are Next In Line to Legalize Marijuana
President Obama is taking a pretty much laissez-faire approach to legalization experiments in the states. (image:whitehouse.gov)
During a series of YouTube interviews Thursday, President Obama demonstrated a remarkably laissez-faire attitude toward marijuana legalization experiments in the states. And he signaled strongly that the Obama administration wouldn`t be taking to the hustings to try to beat back legalization efforts, as previous administrations had been wont to do.
``What you`re seeing now is Colorado, Washington through state referenda, they`re experimenting with legal marijuana,`` the president said in response to a question from YouTube host Hank Green. ``The position of my administratio....
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