The American Voter Supports Cannabis Business Banking Access

October 6, 2022 ·

WASHINGTON, D.C. – A new poll has revealed a majority of American voters support allowing legal cannabis businesses to access banking services. The survey, conducted by Morning Consult for Independent Community Bankers of America (ICBA), found 65 percent of voters support modest cannabis reform, and most respondents feel banking access will promote social equity and improve public safety.

Among business owners, the lack of access to banking or investment capital was ranked as the top issue facing the U.S. cannabis industry overall according to a report by Whitney Economics. The report notes that barring access to “normal business tools” like bridge loans, real estate loans, construction loans, revolving credit and credit card processing places heavy financial burdens on cannabis operators and makes the industry less welcoming to minorities. (mgmagazine.com) Full Story

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