Northwest Senators Push To Open Banking To Cannabis Businesses

Legal marijuana is a rapidly-growing reality. Four states, including Oregon and Washington, have legalized recreational use of the drug. Several more – including California – could well do so by the end of next year. Forty states have legalized it in some form for medicinal use.

Now, US Senators from Oregon, Washington and Colorado hope to start breaking down the federal barriers that lock many legal cannabis businesses out of routine banking and financial services.

When you start a business, one of the first things you do is set up bank accounts. But for a lot of budding entrepreneurs in states with legal marijuana markets, that’s often nearly impossible.

Matt Price owns Cannabliss, a medical marijuana dispensary with two locations in Portland and a third in Eugene. Price says local bankers have been willing to open accounts for him. But …

Matt Price: “As soon as corporate gets any wind...

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