October 01, 2019 (vol. 129, iss. 2) • Page Image 3
…Though marijuana has been legalized in one form or another in 47 states and Washington D.C., it is not legal at the federal level. Thus, many depository institutions have been reluctant to engage in business with the cannabis industry for fear of getting penalized by the federal government. This has prevented many marijuana businesses, including those in Ann Arbor, from having strong relationships with banks. For instance, Om of ...…