SALEM, Ore. (AP) In a once-empty office in Oregon’s Department of Revenue headquarters, officials have created a mini-fortress.
Recently hired workers sit behind bulletproof glass at a window inaccessible to the public. Police officers brought out of retirement roam the building with handguns on their hips. Security cameras monitor the hallways.
The changes, paid for with a $3.5 million budget and prompted by the state’s newly legal marijuana industry, are similar to those that Colorado and Washington made for accepting huge cash payments of pot taxes from businesses historically blocked from banking.
Such security arrangements are a necessity for safety reasons, but new statistics suggest that could be starting to change.
Federal data show that the number of banks and credit unions across the country willing to handle pot money under Treasury Department guidelines issued two years ago has jumped from 51 in March 2014 to 301 last month. [Read more at KOMONews.com]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
By Hannah King and Arin Aragona Plans for Kentucky’s medical cannabis program took a significant turn last week with the passage of House Bill 829 and the implementation of emergency…
By Steven Ascher and Anna M.Windemuth The unique status of the cannabis business — legal in a majority of states, but still illegal under federal law — creates a thorny…
By Courtney A. Hunter and Jessalyn H. Zeigler Demand for cannabidiol (CBD) products continues to climb, and the market has risen to the occasion. There is now a robust array…
Confidential documents obtained by THE CITY reveal how Chicago Atlantic Group became one of the biggest beneficiaries of the state’s legalization program. Last June, Gov. Kathy Hochul announced that a…