Even With DOJ Guidance, Banks Will Be Leery Of Legal Pot

Law360, New York (January 24, 2014, 7:07 PM EST) -- U.S. Attorney General Eric Holder said Thursday the federal government is developing guidance for banks to maintain accounts for marijuana sellers in states where the drug is legal, but experts say only a change in federal law will give banks confidence they can avoid stiff penalties.

Holder said the U.S. Department of Justice and the U.S. Department of the Treasury were working together to develop guidance that would make going after legal marijuana sellers that access the banking system a low priority for federal prosecutors, with the guidance expected...
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