Pubdate: Sun, 04 Apr 2010
Source: Missoulian (MT)
Copyright: 2010 Missoulian
Contact:  http://www.missoulian.com/
Details: http://www.mapinc.org/media/720
Note: Only prints letters from within its print circulation area
Author: Betsy Cohen
Bookmark: http://www.mapinc.org/mmj.htm (Cannabis - Medicinal)

MEDICAL MARIJUANA PROVIDER CREATES JOBS, OWNER SAYS; BANK RELUCTANT 
TO ENTER FRAY

Medical marijuana pioneer Jason Christ likes to point  out that his 
business - Montana Caregivers Network - is  a boost to Missoula's economy.

"I also pay 20 rents - 20 people work here and those  jobs are in 
important in this economy."

But on the money side of medical marijuana, some banks  are not 
willing to do business in the gray area when it  comes to federal law.

First Interstate Bank, a family-owned regional bank  based in 
Billings, recently closed the accounts of a  handful of medical 
marijuana businesses.

"We don't want to discourage anyone who goes into  business, and we 
believe small business is the backbone  of the Montana economy, but 
because we are regulated by  federal regulation we are just unsure as 
to what their  position may be," said Lyle R. Knight, president and 
chief executive officer of First Interstate Bank.  "There's conflict 
between federal law and the state  law. Rather than run any risk, we 
are going to stay out  of that business right now until we get a 
clearer  position about how the federal government will feel  about it."

Said the banker: "We sure don't want to demean anybody  in the 
business. It's legal in Montana, that's what  voters said. But with 
anything that is new, you have to  work through the details to make 
things work."
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MAP posted-by: Jay Bergstrom