Tag Archives: Michael P. Tremoglie
President Barack Obama’s administration has announced that it won’t enforce money-laundering laws against banks doing business with marijuana stores, in a move designed to “facilitate illegal conduct,” says U.S. Senator Charles Grassley (R-IA)
The Obama administration calls it “Guidance to Financial Institutions on Marijuana Businesses.”
The Washington Post story about this development carried the innocuous headline, “Obama administration clears banks to accept funds from legal marijuana dealers,” when in fact the marijuana “business” is not “legal” under federal or international law.
“Marijuana trafficking is illegal under federal law, and it’s illegal for banks to deal with …