Why can’t legal marijuana dispensaries get bank accounts?
Lawyer Mitchell Kulick talks about cash-only cannabis dispensaries and the role federal banking laws play.
As recreational marijuana expands on both coasts of the United States, one major barrier for the profitable industry is banks.
Legal dispensaries can’t get bank accounts, and as cannabis lawyer Mitchell Kulick explains: “it’s a real challenge to the industry.”
Kulick, who is a partner at the New York City law firm Feuerstein Kulick LLP, spoke to Salon’s Amanda Marcotte on “Salon Talks” about why banks won’t participate in the cannabis industry and how this stance could actually lead to danger.
Read More at Salon.com
