Home Must Reads Gresham MBank explores medical pot banking

Gresham MBank explores medical pot banking

| Print |  Email
Must Reads
Wednesday, July 30, 2014

The Oregon bank wants to provide banking services to medical marijuana businesses in the state.

“While MBank takes no stand in support of, nor opposition to medical marijuana, there is clearly a need to provide a banking solution for law enforcement and taxing agency concerns about what has become an all-cash business in Oregon,” President and CEO Jef Baker said in an email.

Financial institutions are in a gray area when it comes to banking businesses that deal in legal marijuana. Because the drug remains illegal at the federal level banks and credit unions are legally barred from banking such business under the Bank Secrecy Act.

Read more at Portland Business Journal


Related Oregon Business story: Weed Whackers—Will rural Oregon cash in on legal marijuana?

 

 

More Articles

Podcast: Turn Things Around with David Marquet

Contributed Blogs
Friday, October 17, 2014
davidmarquet thumbBY TOM COX | OB BLOGGER

How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.


Read more...

Water World

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Fred Ziari aims to feed the global population.


Read more...

Kill the Meeting

November/December 2014
Wednesday, October 22, 2014
BY AMY MILSHTEIN

Meetings get a bad rap. A few local companies make them count.


Read more...

The short list: 5 companies making a mint off kale

The Latest
Thursday, November 20, 2014
kale-thumbnailBY OB STAFF

Farmers, grocery stores and food processors cash in on kale.


Read more...

Healthcare pullback

News
Thursday, November 20, 2014
112014-boehnercare-thumbBY JASON NORRIS | OB CONTRIBUTOR

Each month for Oregon Business, we assess factors that are shaping current capital market activity—and what they mean to investors. Here we take a look at two major developments regarding possible rollbacks of the Affordable Care Act (ACA).


Read more...

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


Read more...

100 Best Nonprofits to Work for in Oregon [VIDEO]

News
Thursday, October 02, 2014

Screen shot 2014-10-02 at 11.17.21 AMMore than 5,500 employees from 180 organizations throughout the state participated in the 100 Best Nonprofits to Work for in Oregon project.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS