Here’s a couple of extracts

Most bankers did not take much comfort from the guidance, which could be retracted as easily as it was put forward, because read narrowly, it only explained how to report marijuana transactions to the government. It gave no assurance that banks would not face prosecution for money laundering. And not just money laundering: Partner Colorado’s lawyer warned Seefried that the government could also charge her and the credit union’s volunteer board with racketeering..

 

…/…

 

Walking out into the Friday twilight, very few of Behzadzadeh’s employees probably gave much thought to the wad of cash in their pockets. But everyone in the business can recall one or another infamous crime — clerks forced to open a safe at gunpoint in a dispensary on East Colfax; the murder of a security guard in Aurora — and some spectacular heists have gone largely unreported, as when thieves broke through the roof of one grow and then cut open its safe. For these businesses, robbery poses an existential threat. The money is often gone — insurance to reimburse the loss is, naturally, expensive — replaced, potentially, by new costs for tighter security or tougher regulations or, in the case of a store, by damage to its veneer of safety.

Full Article:  https://www.nytimes.com/2018/01/04/magazine/where-pot-entrepreneurs-go-when-the-banks-just-say-no.html