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Banking MJ money

Seems to me, with $1billion worth of deposits going wanting, this would be a good opportunity for someone to start their own bank (or bank-like object) specifically to serve this market. A good foot in the door time, before it becomes entirely legal, and the regular banks dominate the business.
 
Yeah... I've always said that it might be a good idea to re-examine the federal laws on this matter rather than passing state laws which contradict them. I could definitely see this ending badly.
 
Horatius said:
Seems to me, with $1billion worth of deposits going wanting, this would be a good opportunity for someone to start their own bank (or bank-like object) specifically to serve this market. A good foot in the door time, before it becomes entirely legal, and the regular banks dominate the business.
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They'd be subject to the same regulations.
 
KoihimeNakamura said:
They'd be subject to the same regulations.
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Yes, but those are regulations that the President himself has said won't be applied. Now, I can understand why a $100 billion dollar banking industry doesn't want to take the risk of being burned a few years down the line for only 1% more of their deposit values, but $1 billion is pretty good money for someone looking to start up a new bank, and who is willing to gamble on the laws being liberalized before the enforcement is re-instated by a later President.

And if the Gamble pays off, Weed Bank Inc. could be absolutely huge ten years from now.
 
Horatius said:
Yes, but those are regulations that the President himself has said won't be applied. Now, I can understand why a $100 billion dollar banking industry doesn't want to take the risk of being burned a few years down the line for only 1% more of their deposit values, but $1 billion is pretty good money for someone looking to start up a new bank, and who is willing to gamble on the laws being liberalized before the enforcement is re-instated by a later President.

And if the Gamble pays off, Weed Bank Inc. could be absolutely huge ten years from now.
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They should definitely call it that!
 
"Weed Bank Inc.: Just remember, we were there for you when The Man wasn't! <takes a hit off a bong>"


The advertising writes itself!
 
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