Marijuana Minute April 09, 2015: CO Pot Leaders Meet Feds / CA Lawmakers 2016 High Hopes
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In Colorado, Kansa City Federal Reserve President Esther George held a closed-door meeting with about 20 representatives of the marijuana industry according to the Associated Press. Federal authorities have given guidelines to banks about how to take in cannabis related clients but most financial institutions reject the prospects for fear of violating federal laws. Unfortunately, The Associated Press was declined a request to attend the meeting so it’s uncertain what this meeting entailed. Colorado’s Fourth Corner Credit Union was awarded a license to serve the industry by the Feds last year but it’s application has been on hold. It’s said that Marijuana workers plan to urge Reserve President George to approve the application.
Also, reported by International Business Time, California politicians seem to want to take another hit in Marijuana Legalization. There is a ballot measure in the works being rolled up by California, Arizona, and Nevada to get legal cannabis before the voters next November 2016. Advocates of legalization in California are hoping since this would be a presidential election year the likely hood of many younger voters and all proponents may help the measure pass to the left.