Five Marijuana Banking Myths

The American Banker published a piece by Alison Jimenez and Steven Kemmerling. Jimenez is president and founder of Dynamic Securities Analytics Inc., an anti-money-laundering consulting firm, and Kemmerling is CEO and founder of MRB Monitor, which  helps financial institutions mitigate risk related to the marijuana industry with a comprehensive, accurate and easy-to-use marijuana-related business database.  The duo discussed five myths about banking the cannabis industry:

  • MRBs Are Cash-Only Businesses
  • MRBs Do Not Have Bank Accounts
  • All Banks Treat MRBs the Same
  • States Without Legalization Have Zero Ties to MRBs
  • Depositories Are the Only Type of Financial Institution with an MRB Dilemma

Read Alison Jimenez’s and Steven Kemmerling’s “Banks Weighing Pot Business Find Haze of Misinformation”:

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Published by NCV Newswire
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