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  • Congress can solve the cannabis banking conundrum now
    Posted in In the News on July 18, 2019 | Preview rr
    Tags: Jobs & the Economy

    With the number of states legalizing cannabisOpens a New Window. in some form continuing to grow, it’s understandable that Americans with differing views would want to debate whether it’s time to reform the nation’s marijuana laws. As representatives of the credit union and banking industriesOpens a New Window., we aren’t focused on the legalization debate. Instead, we are trying to solve a pressing practical concern caused by the ongoing conflict between state and federal cannabis laws — what t... Read more

  • Perlmutter Interview with KOA
    Posted in In the News on July 17, 2019 | Preview rr
    Tags: Equal Rights, Energy/Environment, Jobs & the Economy, Immigration

    Colorado Congressman Ed Perlmutter joins us to discuss the Bureau of Land Management moving to Grand Junction and also weighs in on the President's tweets and the current priorities in Congress. Click here to listen. Read more

  • California Democrat says Facebook’s currency may do more to endanger America than 9/11
    Posted in In the News on July 17, 2019 | Preview rr
    Tags: Jobs & the Economy

    Facebook’s crypto chief David Marcus faced skepticism Wednesday from lawmakers at a House Financial Services Committee hearing on the company’s plans for the digital currency Libra. The hearing’s tone was far more harsh than the one Marcus testified at Tuesday before the Senate Committee on Banking, Housing and Urban Affairs. Several members of congress on the committee expressed skepticism over Facebook’s decision to delve into a digital currency and financial services before it’s tackled othe... Read more

  • House asks Facebook: 'What is Libra?'
    Posted in In the News on July 17, 2019 | Preview rr
    Tags: Jobs & the Economy

    House lawmakers on Wednesday questioned how and why Facebook plans to enter the financial services industry and raised doubts about the viability and safety of the company’s proposed cryptocurrency payments system. Members of a House panel grilled Facebook’s lead on Project Libra about concerns spanning from financial systemic risk and data privacy to core questions about what kind of product the social media giant was building with dozens of major corporations. Above all, though, lawmakers on W... Read more

  • Senate Schedules Hearing On Marijuana Business Banking Access
    Posted in In the News on July 16, 2019 | Preview rr
    Tags: Jobs & the Economy

    In one of the clearest signs of marijuana reform's growing momentum on Capitol Hill, a Republican-controlled Senate committee has scheduled a hearing for next week that will examine cannabis businesses' lack of access to banking services. The formal discussion in the Senate Committee on Banking, Housing and Urban Affairs on Tuesday comes as legislation aimed at resolving the marijuana industry's financial services problems is gaining momentum. A House cannabis banking bill that cleared that cham... Read more

  • Cannabis banking reform secures landmark US Senate panel hearing
    Posted in In the News on July 16, 2019 | Preview rr
    Tags: Jobs & the Economy

    A key U.S. Senate panel will meet next week to consider steps that could make it easier for marijuana companies to obtain banking services, a move that could pave the way for crucial MJ reform. The July 23 Senate Banking Committee hearing – which took industry officials by surprise – includes Sens. Jeff Merkley, an Oregon Democrat, and Cory Gardner, a Republican from Colorado. Both are backing the Secure and Fair Enforcement (SAFE) Banking Act. That bill would enable financial institutions to se... Read more

  • Powell says Facebook’s Libra cryptocurrency raises ‘serious concerns’ including money laundering
    Posted in In the News on July 10, 2019 | Preview rr
    Tags: Jobs & the Economy

    Federal Reserve Chairman Jerome Powell has a list of red flags ahead of the launch of Facebook’s global cryptocurrency. “Libra raises serious concerns regarding privacy, money laundering, consumer protection, financial stability,” Powell said in front of a Congressional committee Wednesday. “These are concerns that should be thoroughly and publicly addressed.” The Fed chair fielded multiple questions about Facebook’s ambitions from members of the House Financial Services Committee as part of a s... Read more

  • Facebook's Libra 'raises many serious concerns', Fed Chairman says
    Posted in In the News on July 10, 2019 | Preview rr
    Tags: Jobs & the Economy

    The Federal Reserve has set up a working group to evaluate Facebook's Libra cryptocurrency, Chairman Jerome Powell told the House Financial Services Committee during his testimony Wednesday. Since it was announced three weeks ago, Libra has come under increasing regulatory scrutinyaround the world. Many fear it could quickly become a universally accepted form of payment at a time when cryptocurrencies remain largely unregulated. Facebook (FB) has said it spoke with regulators before the announc... Read more

  • No one argues for keeping marijuana illegal, but next step divides House panel
    Posted in In the News on July 10, 2019 | Preview rr
    Tags: Jobs & the Economy

    At a hearing on marijuana Wednesday, no one on the House subcommittee who helps write the criminal code spoke out in clear support of continuing the prohibition that has been part of federal law for decades. “Personally I believe cannabis use in most cases is ill advised, but many things are ill advised that should not be illegal,” said California Republican Rep. Tom McClintock, the panel's acting ranking member. There was little consensus, however, on the House Judiciary subcommittee on Crime, ... Read more

  • Republican lawmaker on decriminalizing marijuana: 'Cat is already out of the bag on that'
    Posted in In the News on June 21, 2019 | Preview rr
    Tags: Jobs & the Economy

    Rep. Steve Stivers (R-Ohio) is pushing back against critics who claim that marijuana legalization will make cannabis more accessible, and therefore, more widely used and misused. Stivers has teamed up with Rep. Ed Perlmutter (D-Colo.) on a bipartisan marijuana banking bill that would prevent federal regulators from punishing financial institutions who serve cannabis businesses operating legally under state law. Though Stivers has said he does not support recreational use of the drug, he told Hil... Read more

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