BANKING ON POT
LOS ANGELES (AP) – California officials say they’re going to take a close look at the possibility of creating a taxpayer-backed bank to handle what could be billions of dollars in revenue generated by the state’s legal marijuana industry. The state treasurer stopped short of endorsing the idea but said his office would work with the state attorney general to examine how a weed bank might work for California’s emerging pot economy, estimated to grow to $7 billion. Legal pot sales kicked off in California on Jan. 1. However, many banks don’t want anything to do with pot money for fear it could expose them to legal trouble from the federal government, which still lists marijuana as illegal. So that means a lot of pot business is conducted in cash which is risky for cannabis workers and the public. So, is a public bank a solution? It’ll take about a year to complete the study.
ADULT STORE DISPUTE
RAPID CITY, S.D. (AP) – A federal judge has ruled that Rapid City, South Dakota, violated a businessman’s constitutional