The Green Pages
With more and more states legalizing the sale or use of cannabis the federal government is struggling to keep up, and cannabis legislation has been stagnant. As a result, there is no safe harbor in the cannabis industry, meaning there is no legislation that assures the safety of banking cannabis. So, many who enter the cannabis industry have preferred stealthier ways of banking. Many financial institutions are unwilling to take the risk, worrying it will put the rest of their business at risk if something happens in the cannabis sector.
Banking openly comes with real benefits, including FDIC insurance, no cash deposit limits, and the possibility of business credit, which opens up options for the future. In the long term, businesses that openly bank have access to more reliable financial options.
That is why we have compiled this list of nationwide and state-by-state banks that openly accept cannabis business and are FDIC insured.
A list of nationwide cannabis-friendly banks as well as local banks for New England legalized markets.