Will Cannabis Businesses Find It Easier To Put Money In The Bank?

There’s so much money to be made in cannabis, but not a lot of places where you can put it.
Federal law prohibits commercial banks and credit unions from working with businesses that sell or manufacture cannabis products, which means they can’t open accounts or obtain loans.

That’s why you’ll see heavy security at so many dispensaries: metal detectors, guards, or even smart cars that roam the surrounding neighborhood. At any given time, these storefronts can have a risky amount of cash floating around.

Though the Obama administration’s Department of the Treasury provided a few guidelines for cannabis banking under a directive by the Financial Crimes Enforcement Network, they’re pretty loose.

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