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Ohio Cannabis Facilities Urge Senate to Pass Marijuana Banking Bill

Banking remains a major hurdle

Since 2019, it has become a nearly billion dollar business in Ohio. However, experts told News 5 that medical marijuana still faces a stigma that's stunted the industry's growth by restricting how it is able to utilize banks and financial institutions.

Current federal law dictates that financial companies working with medical cannabis facilities could be prosecuted.

Andy Rayburn, CEO of Buckeye Relief in Eastlake and president of the Ohio Medical Cannabis Industry Association, told News 5 that banking remains the largest challenge for cannabis companies in the state.

Please select this link to read the complete article from ABC 5-Cleveland.

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