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June 18, 2018

Pot bank proposal wouldn't be a cure-all

  • The measure would take steps to allow banks to handle marijuana funds without the risk of federal prosecution.
    • By MICHAEL R. BLOOD
    Associated Press


    “Most financial institutions will be looking for even more affirmative direction from (Washington) to feel comfortable with banking cannabis companies.”

    --Nicole Howell Neubert,
    pot industry lawyer

    LOS ANGELES — A proposal in Congress to ease the U.S. ban on marijuana could encourage more banks to do business with cannabis companies, but it appears to fall short of a cure-all for an industry that must operate mainly as a cash business in a credit card world.


     
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