Maryland

Thu
26
Mar

GROWING CONCERNS FOR MARIJUANA BANKING

Many marijuana businesses are running solely on cash operated businesses, having to pay tens and hundreds of thousands of dollars in cash money for protection, utilities and employee payouts. This is causing a safety concern for those that partake in the marijuana industry forcing them to carry high amounts of cash at all times quickly becoming targets for criminals.

Banks are wary of dealing with cannabusinesses because of the fear of being prosecuted for conspiring money laundering under federal law. Many banks have been refusing businesses due to this issue. The banking problem is even spilling over in to state politics regarding marijuana laws.

Tue
13
Jan

Draft Regulations Released for Maryland’s Medical Marijuana Program

ANNAPOLIS, MD — On April 14, 2014, the Governor of Maryland signed Senate Bill 923 and House Bill 881 into law. These bills allow medical marijuana growers and dispensaries to open in Maryland to provide medical cannabis to patients who receive written certifications from their physician. Before these bills were signed into law, Maryland decriminalized […]

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