Arizona Republic: “The medical-marijuana era might have arrived in Arizona, but dispensaries are stuck doing business like street-level dealers: cash only. Checking accounts and credit-card machines for state-licensed dispensaries have become casualties of a crossfire between state and federal laws. . . . banks and credit unions, which are federally insured, steer clear of Arizona’s new health buzz, citing federal regulators. Medical-marijuana proponents say banks also won’t lend to the marijuana industry out of fear of federal seizures. The cash-only conundrum is a nightmare for dispensaries“
Cash-only Business Produces Problems for Medical Marijuana Dispensaries
By On the Net|2012-12-18T06:28:06-07:00December 18th, 2012|Banking Issues, Stories & Articles|Comments Off on Cash-only Business Produces Problems for Medical Marijuana Dispensaries
About the Author: On the Net
The author of this article is
Richard Keyt, an Arizona business law attorney who is the creator of this Arizona medical marijuana law website. Connect with Richard at 480-664-7478 or on Google+