Why marijuana businesses can't use banks

Most banks won’t work with legal weed businesses as long as marijuana is still federally illegal. Congress could soon fix that.

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Posted in Business

5 Comments

  1. Autumn Oceans on September 30, 2020 at 12:46 am

    decrimnow.org decrimny.org
    FULL DECRIMINALIZATION NOW!



  2. Bill Cichoke on September 30, 2020 at 1:01 am

    ALL financial institutions covered under Federal Deposits Insurance Corporation (FDIC) or National Credit Union Association (NCUA) MUST follow anti money laundering and other federal legislation designed to deny terrorist organizations untraced funds.  To that end, they cannot do business with drug pushers posing as ‘pharmaceutical’ companies who are under no regulatory or clinical oversight.  Doesn’t matter if getting stoned is legalized; the laws are still in effect and banks who don’t want to lose coverage of their depositors’ money, won’t play ball.

    So…secure banking, or runs on insolvent banks due to failed pot loans?  Your choice.



  3. Yusuf on September 30, 2020 at 1:12 am

    Use cryptocurrency, screw the banks



  4. Tuwavvy Tony on September 30, 2020 at 1:16 am

    The marijuana industry has a banking problem crypto can solve!



  5. Ganja Train on September 30, 2020 at 1:31 am

    Legalize marijuana worldwide!