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The governors of Colorado and Washington want federal authorities to keep their end of a bargain in which regulators said they would give guidance on banking the marijuana industry once law enforcement gave theirs.
In a letter last week to the heads of the four major banking regulating agencies — the Board of Governors of the Federal Reserve, the Office of the Controller of the Currency, the Federal Deposit Insurance Corporation and the National Credit Union Administration — Colorado Gov. John Hickenlooper and Washington Gov. Jay Inslee jointly and gently asked for “follow-up inter-agency guidance” to bank examiners and the banks and credit unions about how to do business with legal marijuana.
“Banks and credit unions in Colorado and Washington are waiting for the Federal Banking Agencies to furnish instructions given to bank and credit union examiners before deciding whether and how to provide banking services to state licensed recreational marijuana businesses,” the governors wrote in the May 23 letter made public Tuesday.