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The Uncertain Future Of Marijuana Banking And Financing In Mass.09:29
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Marijuana plants are harvested and hung in a processing facility in Franklin. (Jesse Costa/WBUR)MoreCloseclosemore
Marijuana plants are harvested and hung in a processing facility in Franklin. (Jesse Costa/WBUR)

With cannabis still illegal under federal law, most banks will not work with marijuana companies.

In Massachusetts, the GFA Federal Credit Union is the only company that publicly announced they would deal with recreational marijuana companies.

In California, another state that has legalized recreational marijuana, the industry operates as a mostly-cash economy. That's created all kinds of issues for the business owners and customers.

What does this mean for the burgeoning industry in Mass.?

Guests

David Downs, California editor for Leafly.com News, the editorial arm of the cannabis website Leafly.com. He tweets @davidrdowns.

Jim Smith, founding partner at Smith, Costello, and Crawford

This segment aired on November 27, 2018.

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