The SAFE Banking Act, if made into law, would provide protection from federal interference for financial institutions that choose to provide financial services to CRLBs. (Photo: Shutterstock)
To understand the dilemma faced by state-approved cannabis businesses that are fortunate to generate millions of dollars in revenue, one might imagine the difficulty these businesses face operating without the financial services offered by federally regulated financial institutions. For instance, such businesses lack access to loans, credit cards, lines of credits, bank accounts and secured armored trucks for transporting cash receipts.
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