With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else to bank.
In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.
A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.
Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.