banks

State Capitol News
8:07 am
Mon February 17, 2014

Federal Government Releases Guidelines for Banks with Marijuana Dispensary Clients

Credit latimesblogs.latimes.com

Attorneys for some of the state’s medical marijuana dispensaries are hoping some new federal guidelines finally give their clients a chance to put their money in the bank. Arizona Public Radio’s Howard Fischer explains.

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State Capitol News
9:56 am
Thu March 15, 2012

Bankers Beat Back Efforts at Mortgage Relief in AZ

About half of all Arizona mortgages are under water, meaning owners owe more than the property is worth. This proposal was aimed at helping those who continue to make payments rather than simply walk away. It is a bit complex, involving the state using its power of eminent domain to acquire the property, paying the bank the current market value with money from investors who buy state bonds, and giving the lender a no-interest promissory note for the balance. That buys the homeowner some time for the market to recover.

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