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Weed the Press!

I came across an article while looking at current finance and marijuana news that I found interesting. It was something that had not crossed my mind and I have two family members that are employed in the “legal” marijuana industry. Currently, employees of companies that are related to marijuana production and sales are having issues obtaining loans such as auto and home mortgage. Specifically, they talked about a former Marine heavy equipment operator with two tours in Iraq applied for an auto loan. He now works 20 hours a week at a dispensary as a cannabis consultant. They had to run his application through 30 creditors before he was approved. The problem was that part of his income was derived from an activity considered illegal under federal law. Companies as big as Wells Fargo have come forward to say they won’t lend auto or home loans to employees of marijuana businesses. They state that due to the fact they are a federally chartered bank they have to follow federal law. The selling and use of marijuana is still federally illegal. I know we have all thought about health insurance not covering medical marijuana. Also, the fact that having your medical marijuana card could give you an issue with OBTAINING certain jobs. I myself think that it’s bull. Well… that’s your potitics for today!

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