UPDATE: On Marijuana, Feds Plan To Address Banking Issue - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

UPDATE: On Marijuana, Feds Plan To Address Banking Issue

Posted: Updated:

WASHINGTON (AP) - A Justice Department official says the federal government will enable financial institutions to transact business with the legitimate marijuana industry without fear of prosecution.
    
The issue has taken on greater urgency now that Colorado and Washington have become the first states to legalize recreational use of marijuana.
    
Currently, processing money from marijuana sales puts federally insured banks at risk of drug racketeering charges.
    
In an appearance before the Senate Judiciary Committee on Tuesday, Deputy Attorney General James Cole said the issue was one that the federal government needed to deal with.
    
The Justice Department announced Aug. 29 that it won't try to stop Colorado and Washington state from legalizing recreational marijuana use as long as they implement strong enforcement systems. Marijuana is an illegal drug under federal law.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

HD DOPPLER 6i
/
  • Top Stories from KHQHomeMore>>

  • "My son was just gone": mother of kidnapped baby speaks out about online danger

    "My son was just gone": mother of kidnapped baby speaks out about online danger

    Tuesday, November 21 2017 12:30 AM EST2017-11-21 05:30:18 GMT
    Police say Fern Littlecalf kidnapped a babyPolice say Fern Littlecalf kidnapped a baby

    SPOKANE, Wash.- The mother of a 6-month old baby who was kidnapped as part of an elaborate online scam is speaking out, urging everyone to be careful who they meet on the internet.  Lekeisha Johnson, from Kennewick, says she thought she'd been in a relationship with a man for weeks, but then she found out that her supposed boyfriend never existed in the first place. 

    More >>

    SPOKANE, Wash.- The mother of a 6-month old baby who was kidnapped as part of an elaborate online scam is speaking out, urging everyone to be careful who they meet on the internet.  Lekeisha Johnson, from Kennewick, says she thought she'd been in a relationship with a man for weeks, but then she found out that her supposed boyfriend never existed in the first place. 

    More >>
  • SUV driver crashes into De Leon Food and then takes off

    SUV driver crashes into De Leon Food and then takes off

    Monday, November 20 2017 10:54 PM EST2017-11-21 03:54:11 GMT
    Courtesy De Leon FoodsCourtesy De Leon Foods

    SPOKANE, Wash.- Spokane Police are looking for the person who crashed into De Leon Foods on Francis in north Spokane. 

    More >>

    SPOKANE, Wash.- Spokane Police are looking for the person who crashed into De Leon Foods on Francis in north Spokane. 

    More >>
  • Two people and a bird escape house fire in North Spokane

    Two people and a bird escape house fire in North Spokane

    Monday, November 20 2017 10:47 PM EST2017-11-21 03:47:08 GMT
    Crews respond to house fire in N. SpokaneCrews respond to house fire in N. Spokane

    SPOKANE, Wash.- Spokane fire crews responded to a house fire Monday night about 7:30pm in North Spokane, at York and Wall.  Crews say it appears the f the fire started outside, at the front of the home, and then moved into the interior. C

    More >>

    SPOKANE, Wash.- Spokane fire crews responded to a house fire Monday night about 7:30pm in North Spokane, at York and Wall.  Crews say it appears the f the fire started outside, at the front of the home, and then moved into the interior. C

    More >>