Frequently asked questions:
Q: Where does the banking situation stand with regards to the legal marijuana industry?
A: As attorney Jeffrey Steinborn points out on Page 11 of the April issue, the banking situation remains a fuzzy topic.
Scott Jarvis, the director of Washington’s Department of Financial Institutions, said in a recent story in The Oregonian that he believes when retail stores begin opening, some banks will be more willing to work with 502-licensed businesses. However, initially, those banks will not be enough to cover the entire market, he told The Oregonian.
Each month, Marijuana Venture will publish a frequently asked questions section, which will include answers to questions for the Washington State Liquor Control Board, legal issues, questions about growing and processing techniques, etc. Send your questions to Editor@MarijuanaVenture.com or connect with us on Facebook at www.facebook.com/MJVenture.