Marijuana Banking Service Solution to be Found in California - TNMNews.com
California is looking to find a marijuana banking service solution before retail shops are legal in a year. The initiative is working to stop a very large problem in the industry, finding money. Financing is the biggest issue for marijuana businesses looking to join markets, and create more welfare within the industry. A marijuana banking service solution could create more growth in California’s already-massive marijuana market. California’s market accounts for more than half of marijuana sales in the entire United States, and is poised to grow even further after legalizing marijuana for recreational use. United States Senator Elizabeth Warren has promised to help the marijuana industry obtain banking services, directly addressing the issue within the US government. The lack of banking services for cannabis companies is rooted from the schedule 1 label on marijuana, making it an undesirable industry for banks to deal with. A marijuana banking service solution is necessary for companies to obtain financing to fuel an industry that is filled with growth opportunities.
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