Why Legal Weed Companies Are Still Getting Dumped By Financial Service Providers, Payment Processors

The inauguration of President Donald Trump left the legal cannabis industry feeling, to be frank, shook as hell. And even now, more than three months into Trump’s America, the weed world seeks stability as feelings of uneasiness abound.

In the time since Attorney General Jeff Sessions and Press Secretary Sean Spicer suggested the possibility of a federal crackdown on states with recreational marijuana programs, the financial fallout has ranged from stalled investments into weed businesses, to cannabis-ancillary firms having their accounts suspended or being outright dropped from their financial service providers and payment processors. The uncertainty of how Trump’s administration will utilize federal resources to police legal pot—or potentially dismantle the industry state by state—has many in the legal marijuana sector at a standstill.

But even if the retail and recreational use of cannabis were to become legal at the federal level, or if marijuana were rescheduled by the DEA, the cannabis industry would remain a high risk business space…

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