Oregon bank reverses decision to offer service to Colorado pot businesses
Oregon-based MBank has reversed its move to offer Colorado marijuana businesses services.
The Denver Post reports that bank officials said they lack the infrastructure to handle the large demand received from the state in the past week. Yet others say the move was due to pressure from federal regulators.
Just last week MBank announced its plans to serve Colorado’s booming pot industry. The bank already serves such businesses in Oregon and Washington, and will continue to do so.