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Why Banks Aren’t High on Taking Marijuana Money

OZ Stoners

By OZ Stoners
in International Cannabis News

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"It is currently Wells Fargo’s policy not to bank marijuana businesses, based on federal laws.” So said the nation's fourth largest bank last week, as executives were reviewing new guidance from a major federal regulator that cleared U.S. banks to accept money from legal marijuana businesses, or "cannabusinesses." Medical marijuana is legal in 20 states and the District of Columbia, and ...

 

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