Standard News

Hide Advertisement
  • Business
  • Culture
  • News
  • Technology
  • Trending
Site logo
ADVERTISEMENT
ADVERTISEMENT

Fed’s Williams sees ‘unsustainable tension’ on pot-related banking

September 7, 2016 | By Reuters
Leaves of marijuana plants are seen at Japan's largest legal marijuana farm in Kanuma, Japan

RENO, Nev. (Reuters) – As more and more states legalize the use of marijuana, which is banned under U.S. federal laws, banks are facing “unsustainable tension” that needs to be resolved by Congress, San Francisco Fed President John Williams said on Tuesday.

“This is a big issue for this country,” Williams said after a speech to The Hayek Group in Reno, Nev., where voters will decide whether to legalize some uses of marijuana this November. Pot-related businesses don’t have access to the same bank-run electronic payment systems that are increasingly making transactions safer for most other U.S. businesses, he said.

Advertisement

(Reporting by Ann Saphir; Editing by Simon Cameron-Moore)

tagreuters.com2016binary_LYNXNPEC86031-VIEWIMAGE

← Previous Post Next Post →
Advertisement - Continue reading below
Share  On Facebook

Florida is investigating apparent new case of locally transmitted Zika

States ratchet up transgender battle with lawsuit against U.S.

Roan Johnson’s ‘Piuma’ brings laughs and irony to Venice film fest

UAW chief says Clinton told him she would renegotiate NAFTA

Thousands of voters in limbo after Kansas demands proof they’re American

Lockheed wins $424 million contract for radar emitter simulation products: Pentagon

Cannes on high alert ahead of film festival opening

DJ Khaled ousts Drake for first No. 1 on Billboard 200 chart

‘Deepwater Horizon’ makers say authenticity a priority for film

Man who scaled Trump Tower in New York facing criminal charges

load more Loading posts...

sidebar

ADVERTISEMENT
ADVERTISEMENT

sidebar-alt

  • About Us
  • Imprint
  • Contact Us
  • Terms of Service
  • Privacy Policy