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Banks refuse money from marijuana sales in federal clash
The expanding legal cannabis industry faces a multibillion dollar cash problem as most banks refuse to handle marijuana proceeds amid federal illegality. Industry leaders warn cash-heavy operations risk theft and tax problems while lawmakers consider changes.
MENTIONED IN THIS ARTICLE
Washington
District of Columbia
Taylor West
National Cannabis Industry Association
Congress
Alaska
Oregon
Colorado
Washington State
National Conference of State Legislatures
West
Scott Jarvis
Department of Financial Institutions
Jarvis
Legiti
Federal Reserve System
NCSL
Megan Michiels
American Bankers Association
U.S. Department of the Treasury
Justice Department
U.S
Ed Perlmutter
D-Coro
Michiels
The
Bankers Association