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About "Cannabis / Marijuana Banking (NEG)"
Summary: Marijuana (also known as “cannabis”) is regulated at 2 different levels in the U.S. under our system of federalism. The federal government has a ban on buying and selling it. Until recently all the states did too, but that is rapidly changing. Some states have legalized it for medical purposes (with doctor’s prescription) and some states have legalized it for recreational use (subject to various regulations, age limits, locations of use, taxes, etc.). This mixed up situation gets even more confusing when a marijuana business that is legal under state law tries to open a bank account to deposit the proceeds of their sales and pay their rent, utilities etc. Since banking is regulated under both state and federal law, banks are afraid to accept marijuana businesses as customers because they don’t want to get prosecuted under federal law for aiding illegal drug dealers or money laundering illicit funds. State-legal marijuana businesses thus have to do everything in cash, which poses numerous problems. Plan would have the federal government authorize banks to do business with state-legal marijuana operations without the risk of federal prosecution.
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Coach Vance debated in National Forensic League debate while in high school from 1979-1982. In college, he judged at high school NFL tournaments in North Carolina. A homeschooling dad himself, he realized the growing potential and benefit of homeschool debate and switched over to coaching homeschoolers a couple years later. In 2001, he helped Chris Jeub with bringing The Blue Book to a more advanced level. He has been co-authoring Blue Book ever since.