Publisher's note: As many will remember, VISA, through its companies CyberSource and Authorize.net decided last year that they wouldn't process sales of legal guns online; which very naturally ticked off a lot of gun owners.
The operative word there being legal. I can't say 100%, but I'd be willing to wager that this decision came about as a result of pressure from the same federal government that has now waved the checkered flag for banks to do business with pot dealers where it is legal. No doubt, this was a first step for all electronic firearms/ammo transactions.
My major point is; that same government that takes daily steps to prevent We the People from protecting ourselves, wants to keep as many of the masses stupified on drugs they've made legal for just that purpose. Wake up America.
Fox News: The Obama administration took the unprecedented step Friday of clearing the way for banks to do limited business with marijuana sellers, releasing guidelines for how financial institutions can work with pot shops in states where it's legal.
The move immediately was greeted with relief from the budding marijuana industry. Before the guidance, banks largely had avoided the new pot shops in Colorado for fear of federal prosecution -- leaving marijuana sellers running cash-only operations.
"This is a huge victory for our members, our communities, and the banks that take this opportunity to serve a thriving new market," National Cannabis Industry Association director Aaron Smith said in a statement. "No legitimate business should be forced to manage its payroll, taxes, utility bills, and licensing fees entirely in cash."
It's unclear, though, to what extent banks will engage those businesses. One industry group, the Consumer Bankers Association, voiced legal concerns despite the new guidelines and urged Congress to get involved.Add a comment