Banking On The Marijuana Industry?

MARIJUANA AND MONEY

OREGON: It is legal to sell marijuana in 23 states. But pot businesses can’t deposit their money in banks because of federal banking laws. While the dilemma has been a back-burner issue in Congress for several years, a solution may be in the works. A provision in the upcoming financial services spending bill would prevent Read the full article…

Big U.S. Banks Seek New Clarity On Risks Of Marijuana-Linked Accounts

state lawmakers this year are poised to pass a law clarifying that public benefit cards can't be used at dispensary ATMs.

MISSOURI: Major banks are getting increasingly wary of some transactions with smaller banks that have begun to allow marijuana businesses to open accounts. Officials at the bigger institutions say they fear being in breach of anti-money laundering laws and are pressing federal authorities to make it clear what is legitimate and what is illegal. The problem arises because Read the full article…