Cannabis Banking Woes Widen
For all the successful reforms and increasingly marijuana-friendly attitudes among politicians — not to mention a relentless, nation-wide cultural backlash against the failed policies of prohibition — most legal cannabis companies have remained stuck in a cash-focused industry, forced to tread a disastrously unfortunate line in regards to mainstream bank services.
In case you’ve missed it so far, this is a big deal: perhaps the biggest obstacle preventing cannabis from going irrevocably mainstream.
‘Dude, where’s my 401k?’
Since legalization first touched down in Washington and Colorado, there have been countless reports of cannabis companies waking up to realize their bank account had been shut down, or their credit cards canceled.
Mary’s Medicinals, however, has had a particularly brutal time in 2016. In addition to recently losing its Facebook community of more than 20,000 followers, the Colorado-based infused product manufacturer also lost its credit card processing, payroll services, and 401k — each offered through different banking institutions — within weeks of each...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.