By NCIA
|
September 9, 2014

Legal marijuana sellers need access to banking system | The Boston Globe


NEARLY TWO years after Massachusetts voters approved medical marijuana, nine distribution centers are to open next year in places like Brookline, Lowell, Salem, and Quincy. The state licensing process for these dispensaries has been convoluted. And yet that path seems easy to navigate compared with the latest obstacle: the banking system. Because the drug remains illegal under federal law, marijuana-related businesses nationwide have struggled to find banks that will accept their deposits. This is creating a bizarre and dangerous cash management situation for businesses that Massachusetts and other states treat as legal. Federal lawmakers and regulators should acknowledge this and allow marijuana dispensaries to use the banking system safely.

Read more: Legal marijuana sellers need access to banking system | The Boston Globe

Colorado Not Suffering Buyer’s Remorse Over Legal Marijuana, Poll Finds | Huffington Post

Join the movement

NCIA is leading the cannabis industry's unified and coordinated campaign to ensure our business sector is treated fairly and has the opportunity to reach its full potential. Now - more than ever - is the time to invest in your business and the future of the industry by becoming a member.

This site uses cookies. By using this site or closing this notice, you agree to the use of cookies and our privacy policy.