Replies to post #220850 on Medical Marijuana Inc (MJNA)

[Clariske]

That is not reality. Banks are ready to help if there is a way they can help, because they need all the money they can get.

[TechWhiz]

Pack10 and Clariske - here is some info.

Banks are not allowed to do any type of banking with company's in the Marijuana Industry due to Federal Law. The Banking Laws have to be changed in order for Banks to be able to offer their services. It almost falls under the category of Money Laudering if any Banks were to open up Accounts and offer Savings and Checking Accounts to any company in this industry. Also, under current laws any cash deposits over $10,000 have to be reported and various reports filed, therefore, Regulations would have to be changed for this Industry since the bulk of their sales are in cash.

Hope this helps.