Banks To Do Biz w/Pot Dealers? Posted by Association of Vermont Credit Unions on 4:56 PM

The nation's banks are now allowed to tend to the financial needs of certain pot dealers now under regulations issued this week by the Treasury and Justice Departments. Although some states allow the sale of medical and recreational marijuana, its production, sale, and possession remain illegal under federal law. Since federal law regulates banking transactions, legal marijuana dealers have been unable to get banks to do business with them. The Treasury Department says the new regulations should reduce the dangers associated with what has been an all-cash business. Watch the video for details.