Colorado Lawmakers Reverse Course On Pot Bank

By: AP Email
By: AP Email

DENVER (AP) - A Colorado plan to set up the world's first financial system for marijuana survived less than 24 hours before state lawmakers changed course and shelved the idea.

The proposal would have allowed state-licensed marijuana businesses to create a financial co-op, sort of an uninsured credit union.

The measure was introduced late Wednesday and cleared a House committee on Thursday. But a few hours later, another House committee gutted the plan by amending the bill to say that Colorado will continue studying the problem of marijuana businesses having a hard time accessing banking services.

Lawmakers from both parties expressed reservations about whether the financial-services plan would work.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 257619371 - kolotv.com/a?a=257619371