Show-Me Weed Cash Crop Threatened

Sadly, because of a patchwork quickly evolving drug laws across the nation . . .


This has been a longstanding threat amongst pros in the industry and now the probs hit home . . .

One huge potential issue is where all that money goes, since large banks tend to shy away from the cannabis industry. Marijuana business owners often talk about having personal and business accounts shut down, forcing them to smaller state-run banks or credit unions.

The issue seems to be that FDIC Insured banks are concerned about running afoul of federal law, which still considers marijuana to be illegal even though various states have legalized its recreational use and even more have legalized it for medical treatment.

The bank’s reluctant persists even after the Financial Crimes Enforcement Network issued guidance in 2014 attempting to, “enhance the availability of financial services for, and the financial transparency of, marijuana-related businesses.”

Still, “for really any FDIC-insured bank, they won’t touch you,” said Clovr CEO Josh Mitchem.

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Marijuana legalization in Missouri raises questions about cannabis banking

KANSAS CITY, Mo. - Missouri's recreational adult marijuana use ballot measure could expand the demand for marijuana products by a lot if the pool of potential customers vastly expands. Estimates say more than $60 billion are spend on legal marijuana products every year with future estimates continuing to climb.