4 Largest U.S. Banks Now Hosting Accounts For Marijuana Businesses

4 Largest U.S. Banks Now Hosting Accounts For Marijuana Businesses

A study commissioned by industry journal American Banker reveals that the nation’s four largest banks have opened accounts for cannabis shops and marijuana businesses.

Conducted by MRB Monitor, a firm that helps financial institutions identify the risks associated with the marijuana industry, the study examined public records in the state of Massachusetts and found that 34 percent of businesses that filed to operate medical marijuana dispensaries in Massachusetts between June 2015 and September 2016 had one or more accounts at Bank of America, Citigroup, Wells Fargo, or JPMorgan Chase.

4 Largest U.S. Banks Now Hosting Accounts For Marijuana Businesses

 



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