The
Wall Street Journal recently covered the banking issues in the cannabis business in Denver.
Excerpt:
At Good Chemistry, a sleek marijuana shop near downtown Denver, owner Matthew Huron stocks an ATM with cash. Whenever a customer makes a withdrawal, the machine transfers money from the customer's account into Mr. Huron's account.
Having already lost 10 bank accounts, Mr. Huron also uses cash to pay every conceivable bill. He even paid a contractor $1 million in cash to build a warehouse for his business.
"What really bothers me is that we are working so hard to be good corporate citizens," he said. "And yet they stop everything at the bank. It's irrational."
Read the rest
here.
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