May 05

Tough new IRS penalties set to target Russian banks

Russian banks that buy U.S. securities after July 1 will forfeit 30 percent of the interest and dividend payments. The withholding applies to stocks and bonds, including U.S. Treasuries. Some previously owned securities would be exempt from the withholding, but…

Feb 14

Banks can now accept cash from legal marijuana sellers

The Obama administration on Friday gave banks a road map for doing business with legal marijuana sellers without getting into trouble, a major step by the federal government toward enabling a legalized marijuana industry to operate in states that approve…

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