An exciting new bill introduced in the Senate on Thursday by a group of bipartisan legislators would legalize banking for legalized, regulated marijuana dispensaries.
As our Palm Beach and Broward County drug crime defense lawyers know, banks have been hesitant (to say the least) about doing business with marijuana businesses. This new bill, if it becomes law, will offer the banks considerable comfort should they choose to conduct marijuana-related business.
Linking legal marijuana businesses with the banking industry will be a safeguard against crime. Without access to business bank accounts, many legal dispensaries are forced to store all of their money in physical cash in the dispensaries, which presents serious risks: the money can easily be lost and the presence of the cash loudly invites crime.