Posts Categorized: Marijuana Banking Industry

On June 8, 2018, President Trump indicated support for a bipartisan bill that would end the federal ban on pot. The legislation, co-authored by Senator Cory Gardner, and Senator Elizabeth Warren, would lift the federal prohibition, defer to states’ laws on marijuana legalization, and permit marijuana businesses to use the federal 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…