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AG Eric Holder says legal marijuana businesses should have bank access

Holder pledged the government would soon hand down stricter regulations in the industry

The legal marijuana industry may be becoming an increasingly attractive investment as prices in Colorado soar, but many investors and banks want to know how these companies will be regulated financially, before they get involved. Fortunately for them, according to U.S. Attorney General Eric Holder, the wait for marijuana regulation may not last much longer.

Speaking at the University of Virginia on Jan. 23, Holder said that lawful marijuana businesses should have access to the American banking system. He pledged that the government would soon hand down rules to govern this relationship as well. While these rules would likely not allow banks to accept direct deposits from marijuana companies they may tell prosecutors not to prioritize cases involving legitimate dealers.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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