marijuana dealers

Moves To Legalize Banking Services For Marijuana Dealers is Gaining Momentum

The move to provide legal banking services for marijuana dealers is gaining momentum as the Attorney Generals from 18 States apply pressure on Congress. They have sent a letter to Congress this January 2018 to amend legal statutes to allow banks the freedom to deal with marijuana-based business owners. The AG’s are from 18 States that have legalized cannabis usage and have asked for the implementation of legal statutes to create exemptions for banks that chose to deal with marijuana-based businesses. Cannabis is the fastest growing industry “Cannabis is arguably the fastest growing industry in the world”, according to ArcView Market Research which has predicted projected sales of $21.6 billion by 2021. This figure represents an annual compound growth rate of 26 percent. Yet owners of companies dealing in marijuana and related products have nowhere to deposit their funds. Refusing marijuana businesses access to banks is dangerous The continued stubborn …

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