Chart: Hundreds Of Cannabis Companies Can't Get Bank Accounts

Companies in the cannabis industry struggle to get banking services because of the federal prohibition, even in legal states. The latest chart in Marijuana Business Daily is a "first of its kind" look at the number of companies facing this problem. Seventy percent of "plant-touching" businesses can't get basic banking services. And many businesses that do land accounts ultimately lose them and need to go searching for another one.

Tim Cullen, CEO of Colorado Harvest Company, told Marijuana Business Daily that he had 14 different accounts in six years. "Just this past month a bank….closed my personal accounts after a 10-year banking relationship," Cullen said. "They even closed my three-year-old son's college savings account."


'South Park' is well known for satirizing pretty much everything happening in current pop culture, and the cannabis industry is no exception. Last week, the popular adult cartoon released a satirical ad for their fictional cannabis brand, Tegridy Farms. The mock brand was originally introduced in a 'South Park' episode that aired last October on the same day that Canada moved to legalize recreational cannabis nationwide. The new Tegridy Farms ad takes shots at the current landscape of the cannabis industry by claiming that it's being run by "a bunch of young corporate banker types" who pretend to be interested in repairing the wrongs done by the War on Drugs, but they're really only interested in making "an easy buck for themselves." "Fuck those guys," says the video's narrator.

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