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Poll results

Marijuana has been legal to sell for both medical and adult-use purposes in Massachusetts since 2016, and cannabis is legal in some form in all but four states. However, because marijuana remains illegal federally, as a Schedule 1 drug, it is very difficult for banks to provide financial services to cannabis companies without risking their standing with the Federal Deposit Insurance Corp.

Should banks be able to provide financial services to legally licensed marijuana companies?
Yes (88%, 156 VOTES)
No (12%, 21 VOTES)
Poll Description

Marijuana has been legal to sell for both medical and adult-use purposes in Massachusetts since 2016, and cannabis is legal in some form in all but four states. However, because marijuana remains illegal federally, as a Schedule 1 drug, it is very difficult for banks to provide financial services to cannabis companies without risking their standing with the Federal Deposit Insurance Corp.

  • 177 Votes
  • 2 Comments
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2 Comments

  • September 19, 2022

    I work in a bank and we can do business accounts and services but no lending at this point- many want to own their own buildings which is not allowed right now

  • September 19, 2022

    Consumers are suffering (paying extra banking fees) because of these disjointed regulations.