In what would be a major shift towards the acceptance of cannabis by the federal government, Attorney General Eric Holder yesterday announced that banks and credit card companies would soon be allowed to open accounts with state-legal cannabis operations.
For years banks have denied or closed accounts with medical dispensaries because banks are federally insured and are barred from dealing with money they know comes from a federally-illegal operation. It’s caused the businesses to become cash-heavy targets for robberies in California and Colorado.