Gresham Oregon’s MBank, says they’re ready to help. “The bank is in discussions with federal and state regulators about providing banking services to medical marijuana businesses in Oregon,” said President and CEO Jef Baker. reports the Portland Business Journal.
While studies have shown that cannabis retail outlets are actually safer than banks, it is still unnecessarily more dangerous to be forced to run an all-cash business. Of course, if Measure 91 passes this November, there will be even more cannabis businesses in need of banking and the industry surely won’t let MBank create a monopoly.
Sam Chapman, who co-wrote and lobbied for HB 3460 said he learned what regulations worked and what didn’t from Colorado’ HB 10-1284. “Colorado had a seed to sale regulation which required security cameras to be focused on plants from the time they were planted until they were sold—literally watching the weeds grow.”
Cheap hipster weed? Would you smoke cheap, hipster, PBR-weed? Let us know in the comments below…
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