New era for pot regulation leaves old problem: Many cannabis companies can't find a bank
The Biden administration's move to reclassify marijuana as a less dangerous but still controlled drug was hailed as a monumental step in reshaping national policy. But it might do little to ease a longstanding problem in the cannabis industry — a lack of loans, checking accounts and banking services that other businesses take for granted.
“As far as financial institutions, I don’t necessarily think it’s going to have a demonstrable effect” on how they deal with cannabis operators, said Morgan Fox, political director for the National
