Cannabis is one of the fastest-growing industries in the U.S. but federal law prohibits cannabis businesses from getting access to banking services.
This forces business operators to deal in all-cash transactions.
That means they can only accept cash from their patients and customers. But they also have to pay all of their bills (vendors, employees, rent, taxes, etc.) in cash.
This week, the U.S. House of Representatives passed the #SAFEBankingAct for the second time.
As State Treasurer, I'm calling on members of the U.S. Senate to pass this critical legislation so that we can address the public safety issue and make it easier for licensed Oregon cannabis entrepreneurs to grow their businesses.
Original source can be found here.
