First GREEN Tests Banking Limits for Florida Marijuana Businesses
Florida's First GREEN Bank has taken on a risk that most other banks have refused: opening accounts for medical marijuana dispensaries and the lawyers, doctors, and vendors that serve them.
August 11, 2017 at 11:00 PM
13 minute read
Florida's First GREEN Bank has taken on a risk that most other banks have refused: opening accounts for medical marijuana dispensaries and the lawyers, doctors, and vendors that serve them.
“Any company that thinks they are going to have a problem because of their affiliation, we'll bank them,” said Lex Ford, senior vice president of First GREEN Bank's medical marijuana division. “We will take on accounts from any ancillary business that is affected by the medical marijuana industry.”
Conflict between state and federal pot laws has long made it difficult for state law-sanctioned marijuana businesses to find banks willing to accept their money.
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