Marijuana Dispensaries Will Be Cash Businesses Unless Banks Let Them Be Customers

MASSACHUSETTS:  As nine dispensaries prepare to open in Boston’s suburbs to dispense medical marijuana in 2015, several have yet to find a bank that will take their money because the drug is still illegal on the federal level. “As a federally regulated financial institution, we abide by federal law and do not bank marijuana-related businesses,” Read the full article…

Bank of America Will Accept Washington State Marijuana Revenue

WASHINGTON: One of the biggest hurdles that companies generating revenue in the marijuana industry have to face is finding a financial institution willing to accept them as customers. The Liquor Control Board in the state of Washington was in the same situation until the Bank of America agreed to permit them to deposit anticipated marijuana related profits in Read the full article…

Washington State Shops For A Bank To Handle Marijuana Money

WASHINGTON: Wanted: A bank for state government. Must offer attentive customer service. Must be able to handle several deposits a day, with drop-offs of up to 40 bags at a time. Must allow an account to be overdrafted during the day by more than $1.2 billion.

Washington State Shops For A Bank To Handle Marijuana Money

WASHINGTON: Wanted: A bank for state government. Must offer attentive customer service. Must be able to handle several deposits a day, with drop-offs of up to 40 bags at a time. Must allow an account to be overdrafted during the day by more than $1.2 billion.