Recreational marijuana has been legal in Washington State since 2014 and increasingly, cannabis companies are finding credit unions and small community banks open to serving their basic financial needs.
The big banks may be starting to warm up to the marijuana sector amid a spree of fundraising deals.
PM has promised legal marijuana will not be a cash cow, all revenues will be spent on public health
The legal cannabis industry took another financial blow this week after the U.S. Federal Reserve announced that chartering a bank specifically for funds from cannabis businesses is “criminal.”
Banking regulators just said no to a financial institution that aims to be the first to serve the expanding marijuana industry in Colorado.