Marijuana and Banking
California Bankers Association Issues Statement on Senate Bill 1150
SACRAMENTO – Today the California Bankers Association, (CBA) released the following statement regarding our opposition to Senate Bill 1150:
CBA Statement: Businesses Serving the Marijuana Industry Are Not Unbanked – They Cannot Be Banked
SACRAMENTO – Today the California Bankers Association, (CBA) released the following statement regarding last week’s California Board of Equalization (BOE) meeting regarding access to banking services by marijuana-related businesses.
Frequently Asked Questions: Marijuana and Banking
Why are marijuana businesses having difficulty getting bank accounts?
Approximately 20 states have authorized usage of marijuana for medical purposes and two states — Colorado and Washington — authorized recreational use in November 2012. However, federal law still makes possession and use of marijuana illegal.