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#1574949 - 07/07/11 03:49 PM Accounts for Medical Marijuana Cooperatives
MirandaR. Offline
Junior Member
Joined: Apr 2011
Posts: 37
Michigan
A question came from one of our office managers regarding the banks policy on opening accounts for medical marijuana cooperatives. We do not currently have such policy. Just wondering if any other Michigan based banks have a policy in place or have similiar concerns.

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#1575106 - 07/07/11 05:40 PM Re: Accounts for Medical Marijuana Cooperatives MirandaR.
biz Offline
Diamond Poster
Joined: Nov 2005
Posts: 1,032
Midwest
I'm looking for this same information.

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#1598803 - 08/31/11 07:04 PM Re: Accounts for Medical Marijuana Cooperatives biz
9 Kids Offline
New Poster
Joined: Aug 2011
Posts: 7
We don't do this. I went to a seminar and was told that banks are crazy to open accounts for medical marijuana business right now. They are not regulated.

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#1640081 - 12/16/11 04:51 PM Re: Accounts for Medical Marijuana Cooperatives MirandaR.
ComplianceGurl, CRCM Offline
Gold Star
Joined: Jul 2007
Posts: 497
We are a Michigan based bank and have put into our policy to NOT open accounts for medical marijuana dispensaries. We were not comfortable with the legal and regulatory considerations with these dispensaries.

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