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”: http://www.americanbanker.com/bankthink/banks-weighing-pot-business-find-haze-of-misinformation-1078496-1.html
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