banking

Marijuana Business
3:28 pm
Wed May 14, 2014

'It's Really Terrifying:' Marijuana Businessman Steve DeAngelo On Running A Business In Cash

Steve DeAngelo, Executive Director of Harborside Health Services, the world's largest marijuana dispensary.
Credit Harborside Health Services

Ross Reynolds speaks with Steve DeAngelo, executive director of Harborside Health Services, a medical marijuana dispensary in California, about what it's like to run a $30 million business mostly on cash.

Marijuana Legalization
2:34 pm
Fri May 9, 2014

In Washington And Colorado, Bankers Are Entering The Marijuana Industry

KUOW Photo/Bond Huberman

Posey Gruener speaks with Russ Rosendal, CEO of Salal Credit Union, about why they decided to offer banking services to licensed marijuana growers in Washington state.

And, Ross Reynolds speaks with AP reporter Kristen Wyatt about Colorado lawmakers' approval of a financial system designed expressly for the Marijuana industry.

Pot Shops
7:17 am
Fri May 2, 2014

Marijuana Banking: Secretive But Poised To Grow

John Davis says his marijuana business is "built like a bank on steroids."
Credit KUOW Photo/Amy Radil

Many marijuana business owners say they have bank accounts, but aren’t completely forthright with their bankers about the nature of their businesses. They claim to be in “consulting” or “medical research.”  And they know they could lose those bank accounts suddenly, at any time, since federal law prohibits banks from holding any funds associated with illegal drugs.

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Finance
3:04 pm
Fri February 7, 2014

Can The Postal Service Help Unbanked Americans?

The United States Postal Service is losing money while low-income Americans don’t have access to simple banking services.
Flickr Photo/tales of a wandering youkai

Marcie Sillman talks with Michael Barr, professor of law at the University of Michigan and author of "No Slack: The Financial Lives of Low-Income Americans," about possible solutions for Americans who don't use traditional financial services.

Marijuana Retail
10:44 am
Mon January 27, 2014

Banks Remain Cautious, Washington Pot Entrepreneurs Turn To Cash, Bitcoin

Marijuana business owners say they frequently lose their bank accounts or operate entirely with cash.
Flickr Photo/401(K) 2012

Attorney General Eric Holder recently said that legal marijuana businesses need access to bank accounts as a public safety issue. Bankers and pot entrepreneurs hailed those comments as an important step. But they said it will take a change in federal law to make banks truly open their doors.

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Credit Protection
7:35 am
Mon December 30, 2013

Consumers May Start Seeing More Secure 'Chip' Credit Cards In 2014

U.S. consumers could soon start seeing a new generation of credit cards
EMV-Connection.com

Originally published on Tue December 31, 2013 8:48 am

Northwest banks say 2014 may be the year consumers start to see a new generation of credit cards that are less prone to fraud.

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American Central Bank
4:10 pm
Tue October 8, 2013

Obama Will Tap Janet Yellen As Fed Chairwoman

Federal Reserve Vice Chair Janet Yellen speaks at an international monetary conference in Shanghai on June 3, 2013.
Peter Parks AFP/Getty Images

Originally published on Tue October 8, 2013 4:53 pm

The White House says President Obama intends to nominate Federal Reserve Vice Chairwoman Janet Yellen to chair the Federal Reserve, once Ben Bernanke completes his term in January.

If confirmed, Yellen, 67, would be the first woman to head the American central bank.

Obama is scheduled to make the announcement at 3 p.m. ET. Wednesday.

The Wall Street Journal reports:

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Pot Banking
10:28 am
Tue September 24, 2013

Washington's Bank Willing To Accommodate Pot Revenue

Washington state Treasurer James McIntire
Courtesy of Washington State Treasurer's Office

Bank of America will handle proceeds connected to marijuana sales despite federal restrictions. Under federal policy, the government views money from marijuana sales as money laundering.

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Banking
7:46 am
Tue September 10, 2013

U.S. Senate To Hold Hearing On State Pot Legalization

Architect of the Capitol

Originally published on Mon September 9, 2013 5:01 pm

The conflict between federal law and pot legalization in Washington and Colorado will be on the agenda in Congress this week.

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Economics
6:00 am
Wed August 21, 2013

Put Your Money Where Your Mouth Is: The Conversation Talks Economics

Paul Krugman
Center for American Progress

We discuss the economy a lot on The Conversation. From the effects of the recession to financial planning, money is always in the news. Today, we rebroadcast some of our best interviews with economists and financial reporters, including a talk with Paul Krugman in front of a live studio audience.

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Banking Standards
12:21 pm
Thu August 1, 2013

Account Denied: Tough Standards Exclude Low-Income People From Banks

Most people need bank accounts. But these days a relatively minor mistake like a bounced check can get you banned from a bank for up to seven years. Ross Reynolds talks to Jerry DeGrieck, the senior policy adviser to Seattle Mayor Mike McGinn, about how this is hurting low-income people who just need a way to cash their checks and keep money safe.

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Patent Battles
5:26 pm
Tue June 4, 2013

Bellevue-Based Intellectual Ventures Now Targeting Financial Firms

Intellectual Ventures co-founder Nathan Myhrvold giving a TED Talk in 2010.
Flickr Photo/Red Maxwell

After numerous high-profile lawsuits against tech companies, a Bellevue-based patent company is now setting its sights on the financial industry.

On Tuesday, Intellectual Ventures announced it has filed lawsuits against two banks, JP Morgan Chase and Fifth Third Bank, for patent infringement. This is Intellectual Ventures’ second round of lawsuits targeting financial firms in the past week. On May 29, the company filed suit against First National Bank of Omaha and PNC.

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Savings Accounts
12:00 pm
Wed April 3, 2013

Living Off The Banking Grid

It’s estimated that about 8.2 percent of US households don’t use bank accounts. Not only that — 20.1 percent of households are considered “underbanked,” meaning they use bank accounts but still opt for payday loans, check-cashing services and other alternatives. This is according to a recent survey by the Federal Deposit Insurance Corporation.

So why aren’t people using banks? Ross Reynolds talks to some of the un- and underbanked.

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Social Issues
9:00 am
Wed January 23, 2013

Attorney Sarah Weddington On Reproductive Rights 40 Years After Roe V. Wade

Attorney Sarah Weddington is shown outside her offices on Monday, April 19, 2004, in Austin, Texas. Weddington argued the US Supreme Court case that legalized abortion in 1971 and 1972.
Credit AP Photo/Harry Cabluck

Roe v. Wade became the law of the land 40 years ago, but the battle over abortion rights continues today. The past two years saw new restrictions on access to abortion in many states. A recent Pew poll found steady public support for the Roe v. Wade decision, but there's also some confusion — more than half of those under 30 did not know what issue the case dealt with. Sarah Weddington argued Roe v. Wade before the US Supreme Court in 1971 and 1972. She joins us with an assessment of the present and future of women's reproductive rights.

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