Page 26 - Waypoint Bank

Marijuana

• Will Trump’s “states’ rights” view, or AG Jeff Sessions’ “enforce federal
law” stance prevail?
• Congressional action is not expected in the near future despite majority
of states permitting

o 18 state AGs, including Colorado, wrote Congress in January
urging action to remedy state-federal law conflict
• Silver bullet du jour doesn’t work
o In 2018, “closed loop” system being pursued = state acts as bank

• Why try to resolve
o Help Colorado – can’t tax/regulate
o Help businesses & customers – legal
o Public safety – bad incident inevitable

• “Act of Congress” needed

Major recent CBA fights to minimize damage to banks and
customers

(Less credit and more expense for customers)

• Basel III capital requirements
• Trust Preferred Securities (TruPS)
• 7 new mortgage rules – tried to avoid bad customer impact – Low
income, rural , small businesses & professionals, hard to document

income – CFPB ignored implementation problems
• Volume of new rules, requiring major effort to reduce regulation
o Imposes compliance costs (huge, job growth), regulatory actions,

litigation risk… = less credit & higher cost for customers