Banking Problems for Marijuana Companies Will Continue


Marijuana companies are struggling to have normal banking relationships since the government continues to label the drug a controlled substance. Taylor West of The National Cannabis Industry Association believes that until the federal government assures banks, in writing, that they aren’t breaking the law, they will continue to decline the business. So far, states have had no problem banking the tax receipts they receive from the cannabis companies.

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In a city with dispensaries as common as coffee shops, Denver is undoubtedly the epicenter of the legal marijuana movement. And if you’re in the business of bud, it’s a good place to be: Colorado accounted for a third of the country’s 2.7 billion dollar marijuana market last year.

But with being America’s fastest growing industry, comes growing pains. Marijuana is still illegal on the federal level, which has led to conflicting state laws, restrictive regulations, and endless problems for cash-only marijuana business owners and operators.

VICE News meets the investors cashing in on the green rush and finds out how fractured marijuana laws are causing the American market to miss out.

Watch “Amsterdam’s War on Weed” – http://bit.ly/1dekkrJ

Medical Marijuana Patients Are Getting Fired — And There’s Not Much They Can Do About It – http://bit.ly/1JgWUk1

Medical Marijuana Laws Don’t Cause Teens to Start Smoking Pot, Study Finds – http://bit.ly/1e1XJ2l

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