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Spokane Valley banker tells Congress to allow lenders to deal with marijuana businesses

Spokane Valley banker tells Congress to allow lenders to deal with marijuana businesses

Feb. 16, 2019 | Kip Hill

Spokane Valley banker Greg Deckard found himself on Capitol Hill earlier this week making an unlikely plea to federal lawmakers to allow his colleagues to do business with marijuana companies.

“I wish it had been about something I’d had more knowledge about,” Deckard, chairman and president of Spokane Valley-based State Bank Northwest, said in an interview Friday.

Deckard, who described himself as a conservative, doesn’t lend to marijuana companies, like most of the lending institutions in Washington. Only six state-chartered lending institutions do business with firms operating in the state’s legal marijuana market, according to Washington’s Department of Financial Institutions. For many, the reason may not be their moral stance on the drug, it’s the threat of a federal regulatory cudgel coming down on lenders working with the cultivators and sellers of a controlled substance.

Spokane Valley banker tells Congress to allow lenders to deal with marijuana businesses






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