You already bank the pot industry. You just don’t know it
Most bank risk managers appear to be taking a zero-tolerance position with regard to cannabis-related funds. But banks cannot suddenly just close the door on local business.
Banks have mostly chosen to stay on the sidelines of the cannabis rush, deterred by the regulatory uncertainty around an industry that is still illegal at the federal level and concerns that the Trump administration seems opposed to legalization efforts.
But it may be a bigger challenge than financial institutions realize to keep their hands completely clean of the marijuana business.
Read More at AmericanBanker.com
