Bank of America OK With Being Washington’s Recreational Cannabis Banker

In an announcement that will have deep implications for the newly-legal recreational cannabis industry in Washington State, Bank of America has agreed to be the state’s primary cannabis banker, meaning they’re willing to accept millions of dollars from recreational cannabis sales.marijuanamoney

Currently Bank of America is Washington State’s official bank, which handles all of the state’s funds. However, the bank’s 7-year contract with the state runs out on June 30th. Washington asked for bids this month, specifically mentioning that accepting deposits of large amounts of cannabis-money will be a requirement.

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