Banking and Lending

Marijuana businesses looking to stash their cash face tight regulation in the banking industry, with federal regulators requiring banks to file “marijuana limited” suspicious activity reports; proposals for cannabis credit coops are stymied by the need for approval from the Federal Reserve.

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The First Bank of Bud

By Matt Richtel

Marijuana is legal in Colorado, but federal law makes banking nearly impossible for the cannabis industry. The result: a dangerous all-cash operation that requires armed guards and layers of security.

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