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Survey of Marijuana Law in the United States: Issues with the Banking Industry

Banking Issues with the Legalization of Marijuana

Federal banking laws have essentially created a "cash & carry" marijuana industry.  Banks cannot accept funds from marijuana businesses for fear of criminal liability because on teh federal level marijuana possession and sale are federal crimes. No credit card accounts and no merchant accounts are permitted. This has created a huge security problem for marijuana businesses dealing with large sums of cash. 

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