Similar Stories to Why Can’t Legal Marijuana Dispensaries Get Bank Accounts? on Bing News

As recreational marijuana expands on both coasts of the United States, one major barrier for the profitable industry is banks. Legal dispensaries can’t get bank accounts, and as cannabis lawyer Mitchell Kulick explains: “it’s a real challenge to the industry.” Kulick, who is a partner at the New York City law firm Feuerstein Kulick LLP, spoke to Salon’s Amanda Marcotte on Salon Talks about why banks won’t participate in the cannabis industry and how this stance could actually lead to danger. On why legal dispensaries can’t get bank accounts: The banking laws in the United States are federal banking laws… and these banks have a lot to protect, and for them to risk being involved, you have to understand marijuana is still illegal on a federal level, so for them to risk their licenser and their charter to participate in this synergy, which is by all accounts a big industry but by a bank account, it’s a small industry.

BING NEWS:
  • Marijuana dispensaries sue NY over alleged misstep in cannabis rollout
    Marijuana dispensary owners sued NY cannabis regulators for allegedly illegally approving legal pot shops within 1,000 feet of existing shops.
    01/10/2025 - 5:20 am | View Link
  • Licensed NYC pot shops sue state in turf war over competition: ‘Rug … pulled out from under us’
    Four licensed city pot shops have sued the state, claiming its cannabis regulators broke the law by allowing other weed dispensaries to operate within a 1,000-feet buffer zone designed to limit ...
    01/10/2025 - 2:27 am | View Link
  • Minnesota marijuana: Dates to remember ahead of dispensaries opening
    Those looking to buy weed at a dispensary will have to wait well into 2025 to do so, as the OCM has provided an updated timeline of its ongoing licensing roll-out for businesses looking to sell.
    01/9/2025 - 8:24 am | View Link
  • Judge OKs rejection of plan for marijuana dispensaries at Florida gas stations
    Green Thumb Industries, which operates RISE dispensaries in Florida, more than two years ago announced a lease agreement with Circle K stores ...
    01/8/2025 - 11:03 am | View Link
  • Nevada legal cannabis sales keep dropping; industry blames illicit market
    Nevada’s cannabis industry has begun to shrink after years of growth, continuing to face stiff competition from the illicit market, according to new data released by […] ...
    01/8/2025 - 7:07 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News