Posts Categorized: Green Banking System

As of this blog, nine states and Washington D.C. have legalized recreational marijuana—Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington. Medicinal marijuana is legal in another 29 states. While weed is gaining momentum, there’s a lack of financial institutions to support the blossoming industry. Unfortunately, cannabis businesses are forced to operate under the…

According to an article in Sunday’s December 17th, 2017 Los Angeles Times, the legalized marijuana industry is projected to grow to $7 billion by 2002. In preparation, California, banks, and federal regulators are working together to create a “green banking system.”   Under this new system, one bank would be designated as a central repository…