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.