
“Banks, including state-chartered ones, are reluctant to provide traditional services to marijuana businesses. They fear that federal regulators and law enforcement authorities might punish them. The limitations have created unique burdens for legal marijuana business owners. They pay employees with envelopes of cash. They haul Chipotle and Nordstrom bags containing thousands of dollars in $10 and $20 bills to supermarkets to buy money orders. When they are able to open bank accounts — often under false pretenses — many have taken to storing money in Tupperware containers filled with air fresheners to mask the smell of marijuana.”
http://www.nytimes.com/2014/01/12/us/banks-say-no-to-marijuana-money-legal-or-not.html
Related posts:
Baubles to bars: India gold culture defies curbs
Tech Industry Sets Its Sights on Gambling
Gov't takes nearly half of California couple's $10M backyard gold find
Greek footballer given lifetime national ban after apparent Nazi salute
Spy-spotter: joke about scary visit came true
Former President Bush praises President Obama on counterterrorism and immigration reform
Bitcoin hype worse than 'tulip mania', says Dutch central banker
Abenomics Spurs Gold Sales in Japan as Inflation Hedge
Up close with the $83 million diamond
EPA’s illegal human experiments could break Nuremberg Code
Vodafone reveals existence of secret surveillance wires
Police officer accused of brutality, lying to FBI over baton beating
Gitmo inmate who was deemed no threat on hunger strikes and force feedings
In Venezuela, Almost-Free Gas Comes at a High Cost
Want to make money as a landlord? Try Detroit