Arizona medical marijuana dispensaries forced to be cash only

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Arizona medical marijuana dispensaries forced to be cash only

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Story by Felicia Martinez, Weekend Anchor/Reporter - bio | email

PHOENIX, AZ - Arizona's emerging medical marijuana dispensary industry is being forced to operate on a cash-only basis because banks won't do business with them.

The bank refusal comes because pot remains illegal under federal law and they've been warned by federal regulators to stay away.

According to reports by the Arizona Republic doing business only in cash is a nightmare for dispensaries. In part because they have to set up safe houses and potentially use armored transport for the cash they collect.

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Arizona medical marijuana dispensaries forced to be cash only - | News for Yuma, Imperial Valley, El Centro, AZ & CA