Largest U.S. Banks Host Accounts for Marijuana Businesses, Says American Banker

Alternative Health to provide laboratory services for a large multi-state laboratory provider.

FLORIDA: A recent study commissioned by industry journal American Banker reveals that the nation’s four largest banks have opened accounts for pot shops and marijuana-related businesses. Conducted by MRB Monitor, a firm that helps financial institutions identify the risks associated with the marijuana industry, the study examined public records in the state of Massachusetts and found that 34 Read the full article…

The Cannabis Market Enters 2017 On A Strong Footing

2017 will be a big year for marijuana

NEW YORK: Over the recent few years, particularly in 2016, the legal cannabis industry has accomplished some significant milestones. Most importantly is the change of public opinion regarding the use of cannabis, both for medical and recreational purposes. Before the November 8th elections where five states voted on legislation reform, a Gallup poll showed that 60% of Read the full article…

I-502 Accounting Basics: Avoid the Audit

NWMJLaw's Anne Van Leynseele leads the 502 Accounting Panel at MJBA Seattle

By Anne Van Leynseele, NWMJ Law WHO’S STANDING NOW; WHO’S STANDING TOMORROW We keep getting the same questions over and over from different clients so to save everyone’s time; we decided to share the answers with all of you MJBA members. GOALS OF THIS SERIES: To increase your business literacy. To help ensure that you Read the full article…

Marijuana Industry Hosts Big, Three-Day Investor Summit In Denver

All were convinced that the ongoing legalization of marijuana has created an opportunity for people with a high tolerance for risk to make a killing.

COLORADO: The convention floor at Denver Airport’s Crowne Plaza this sunny Tuesday afternoon in April could be the trade show for any well-established industry — gray-haired execs in conservative suits mingling with office park dads in polos and fresh-out-of-college types in brand-emblazoned T-shirts. Only this is a new kind of business conference with a special Colorado Read the full article…

Federal Reports Target Colorado Marijuana Money

Colorado has about 800 recreational pot shops, which took in a total of $38 million in February. Handling that kind of cash is no small task.

COLORADO: The federal government is stockpiling hundreds of “suspicious activity reports” that could provide federal agents with sufficient evidence to shut down any state-legalized marijuana business. While it may appear that federal authorities have taken a wait-and-see approach to marijuana legalization in the 23 states that now allow medical or recreational use, these reports are poised Read the full article…

Your Money Stinks

The biggest obstacle to bringing marijuana out of the shadows is the industry’s inability to obtain basic banking services.

COLORADO:  A Few years ago, a Boulder woman who owned one of Colorado’s first dispensaries ran into some troubles with her bank. As she later recounted, the bank told her the money she was depositing into her business account reeked of marijuana. The bank was willing to take her money, but she would have to Read the full article…