New U.S. policy won’t ease marijuana dispensaries’ banking woes

By Brett Wolf ST. LOUIS (Reuters) – Even as a shift in U.S. prosecution policy gives states more leeway to legalize marijuana, the companies that dispense it are likely to have trouble finding a bank, financial service industry and enforcement experts said. Federal anti-money laundering rules prohibit the handling of proceeds from illegal activities, and banks must follow strict monitoring and reporting procedures to stay within the law. …