US CO: Bank Of Denver To Close All Medical Marijuana Accounts:

Westword, 21 Oct 2011 - One of the biggest issues for medical marijuana entrepreneurs is the shortage of banks willing to take their money. Most used Colorado Springs State Bank until September 30, when its MMJ accounts were dropped. And now, The Bank of Denver, where other businesses had found refuge, is doing likewise -- and a dispensary owner says the decision was prompted by the recent raid at Cherry Top Farms. The owner, who asks that his name not be used, says The Bank of Denver was the sixth that's "kicked me out" -- the previous one being Colorado Springs State Bank. He understands that such facilities are anxious about working with MMJ operations, since marijuana remains against federal law, and banks are federally regulated. Nevertheless, "I've never made up any stories," he stresses. "I've told them exactly what I do, because my goal is to be 100 percent forthright about this legal business."

Source: http://www.mapinc.org/drugnews/v11/n633/a01.html

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