Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Native American Tribes May Become Cannabis Banks

 


The blossoming marijuana industry in the United States has seen exponential growth over the past two years a many states began to legalize recreational use of the drug. However, conflicting state and federal laws mean that legal marijuana dispensaries often struggle to find a bank that will accept their business.

As banks are bound by federal laws and could face penalties for dealing with drugs, many are unwilling to engage with cannabis companies. The result has been an excess of cash for marijuana firms, something that they say is increasing their need for security as the risk of robbery has become a real problem.

Read more: http://www.benzinga.com/news/15/10/5911107/native-american-tribes-may-become-cannabis-banks#ixzz3odeMOcaZ

 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020

Rendered 10/26/2020 10:41