The very real challenges the cannabis industry faces when trying to access financial services has led to a misconception that cannabis-related businesses (CRBs) simply can’t get bank accounts. While it’s true that many financial institutions (FIs) aren’t yet ready to bank the industry, a growing number of banks and credit unions are.
So why is it so hard to get an account for your cannabis business?
The short answer is because cannabis banking is risky for financial institutions and bankers are committed to avoiding unnecessary risk.
– Read the entire article at Benzinga.
