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Regulations would allow banks to do business with marijuana sellers
WASHINGTON, D.C. (NEWSCHANNEL 3) - New regulations could be coming that would allow banks to do business with legal marijuana sellers.
That's according to Attorney General Eric Holder.
Currently, processing money from marijuana sales puts federally insured banks at risk of drug racketeering charges.
Holder says that's a criminal danger because it forces pot sellers to keep large quantities of cash on hand.
The issue has taken on some urgency now that Colorado and Washington have legalized recreational use of marijuana.