So, my wife's financial institution where she works will continue to refuse business to anyone who makes a living in the Washington state pot industry.
Governor Jay Inslee Thursday reacted to the Federal government's decision NOT to remove marijuana from it's list of controlled, or banned, substances as part of the Controlled Substances Act.
There had been a movement in Congress and D.C. to remove pot, especially with Washington and Colorado choosing to legalize it. Other states are presuming to follow. So, for the time being, pot will remain on the same list with Meth, Coke, Heroin and others. Inslee had this to say about the decision:
“I am disappointed that we don’t have a national standard for at least medical marijuana. Regardless, following the will of Washington state voters, we will continue to maintain a well-regulated adult-use marijuana system and continue to allow patients to have access for necessary medicinal purposes. A portion of revenues from the marijuana sales in our state goes toward treatment and youth prevention. I appreciate the DEA’s focus on youth prevention and for allowing more testing centers which will provide more medical research for more informed national policy decisions.
"As states continue to legalize medical and recreational marijuana across the country, there is more that the federal government must to do to provide states with legal certainty and empower the operation of safe systems across the country.”
We don't always see eye-to-eye with the Governor, but at least on this issue, his opinion was a measured and responsible statement. This is as much about states vs. the Federal government as anything. We've never championed pot at Newstalk870, but we do believe states should have more say in their own affairs.
This federal decision means financial institutions who are subject to Federal banking rules will not accept pot growing, processing or sale money because they would be in violation of federal law.