Marijuana Moment
The CEO of the financial giant JPMorgan Chase says the company “probably would” start providing banking services to marijuana businesses if federal law changed to permit it.
As the new Congress gets to work, cannabis industry stakeholders are holding out hope for another bipartisan push to advance marijuana banking legislation. And the head of the largest U.S. bank said on an episode of the financial institution’s own “The Unshakeables” podcast that aired on Monday that the reform could change how it approaches state-licensed cannabis businesses.
Chase’s Jamie Dimon started by emphasizing that it has “not de-banked anyone because of political or religious relationships,” which he said people often allege when they’re denied services for their businesses.
To that point, Dimon proactively brought up the fact that “we don’t bank marijuana companies because there’s no federal law around it.”
Listen to his commenta and read more at
