Considering Safe Banking for the Cannabis Industry

Nicholas Anthony and Jeffrey A. Singer

America has increasingly moved in favor of legalizing cannabis consumption (Figure 1), but the shadow of prohibition still hangs over even the freest of states. One need only look to the financial system to see how heavy that shadow truly is. Despite states welcoming the cannabis industry with open arms, federally regulated financial institutions must stay an arm’s distance away.

This clash between federal and state laws has forced many businesses...