Fed regs make rec pot unbankable industry
It’s still illegal for any bank to do business with any marijuana company, much less the 136 now-legal, state-licensed, recreational marijuana dispensaries in the state. So it makes sense that bankers – all of whom are regulated by the federal government – might be a little circumspect in what they said.
Among themselves however, bankers hope the federal government addresses the issue soon, said Mary Jane Rogers, a regional small-business spokeswoman at JP Morgan Chase & Co., which has…
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