New era for pot regulation in the U.S. leaves old problem: Many cannabis companies can’t find a bank
"Cannabis would still be illegal under federal law, and that is a line many banks in this country will not cross."
LOS ANGELES —The Biden administration's move to reclassify cannabis as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry -- a lack of loans, chequing accounts and banking services that other businesses take for granted. Read More