Washington Post

A Maryland bank is quietly solving the marijuana industry's cash problem

Clients line up outside a newly opened medical marijuana dispensary in Rockville, Md., in December. Several other dispensaries and cannabis businesses in the state say they have opened accounts with Severn Bank, one of the few financial institutions willing to work with marijuana entrepreneurs. Washington Post photo by Jahi Chikwendiu

Most banks refuse to open accounts for cannabis-related businesses even in states where pot is legal, citing federal laws that outlaw the drug and consider it on par with cocaine and heroin.

In Maryland, however, at least one community bank is working with the state's newly launched medical marijuana industry, offering growers and stores a way to avoid the security concerns and extra costs of a cash-only approach...

Læs også