OLCC Calls On Congress To Legalize Banking For Marijuana Businesses
July 1, 2022 1:22PM PDT
PORTLAND, Ore. – The Oregon Liquor and Cannabis Commission is calling on the state’s Congressional delegation to remove federal barriers, so marijuana businesses can work with banks.
Having large amounts of cash in businesses makes them targets for robberies.
OLCC Chair Paul Rosenbaum says cannabis banking should be a priority.
Oregon has allowed credit unions to provide some financial services, but they’re limited, have high fees and require a lot of paperwork.