Wells Fargo Closing MMC Bank Accounts?

well khyberkitsune...i think you should probably consider the fact that marijuana is still a schedule 1 controlled substance federally..and i actually think it makes sense for them not to be involved with mmj accounts considering they operate nationally....there's plenty banks that refuse to work with dispensaries and how come ur not hating on them?! how about TCF or something that's a Colorado bank? I think it would be more of a surprise if they don't deal with dispensaries cuz they are a colorado bank and this mmj stuff is a COLORADO state law. I think they are just covering themselves and it kinda makes sense to me why they wouldn't open/continue servicing mmj dispensary accounts...u just seem to have some beef with WF urself (maybe for other financial reasons)..either way..i don't think its such a big deal..there are probly other bigger issues regarding this industry u can focus your efforts on..

"i think you should probably consider the fact that marijuana is still a schedule 1 controlled substance federally"

I think you should consider the fact that a Federally-operated VA allows MMJ in the states it is allowed.

End of discussion. If that part of the Feds recognize it, Schedule I is BULLSHIT.

yup. slippery slope :rastasmoke: :D :rastasmoke:

Well, from the perspective of a national banking institution, it makes sense to limit liability on this issue, which could conceivably interfere with their relationship with the DEA or other federal agencies or actors. That doesn't mean their decision is admirable or even correct, but it was likely perceived to be the safest option. Their choice disappoints me a little, but that's all.

yea no doubt sched. 1 is bs but it is what it is...and maybe that should be the cause u fight for haha but try and put urself in wells fargo's shoes..as high pop said they are probly limiting their liability and tryna keep their ass safe and not support something the federal government as of now doesn't. in the feds pov..yes, mj is sched1 and THAT is end of discussion..bs or not.

i dont even know what you're talking about, sorry i donno what federally operated VA is? veteran's something? is that what ur referring to? still ONLY in the states that mmj is allowed..which isn't the whole nation. am i wrong? i can't really comment on that cuz i donno ur abbreviation. but yea if i was runnin wells fargo i probly wouldn't deal w/ dispensary accounts either as of now. i mean i also probly wouldn't drop accounts i already have cuz that's just kind of harsh to your already clients..but they obvioulsy see some risk. if they didn't, they would probly be glad to be one of the few if not the only bank giving dispensaries accounts...risks probly outweigh the benefits for them in this case..(and that's a lot of accounts they could potentially gain too) if u think of how many dispensaries there are. must b a big risk.

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Originally Posted by khyberkitsune

"i think you should probably consider the fact that marijuana is still a schedule 1 controlled substance federally"

I think you should consider the fact that a Federally-operated VA allows MMJ in the states it is allowed.

End of discussion. If that part of the Feds recognize it, Schedule I is BULLSHIT.

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Clarification point: It doesn't allow MMJ, it just won't deny other forms of treatment because a patient is using MMJ as well. Additionally, a physician can still deny treatment in certain states if they believe there might be an interaction between a prescription and MMJ. Since there is so little clinical data, this can prove to be an easy out for any physician uncomfortable with MMJ.

And yes, schedule I is bullshit.

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Originally Posted by MMDInsuranceCo

Next stagecoach leaving to nowhereâ??all aboard!

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thanks! at least i'm not the only one.
where do we go from here? and ATM machine?

Have you guys heard that WF just got found guilty of rearranging transactions in order to get the most overdraft fees out of you?

Those of you that have encountered this (especially collectives) should be suing to get a piece of that pie.

Quote:

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Originally Posted by khyberkitsune

Have you guys heard that WF just got found guilty of rearranging transactions in order to get the most overdraft fees out of you?

Those of you that have encountered this (especially collectives) should be suing to get a piece of that pie.

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:wtf: I bet all banks do this. (shady bastards)

Quote:

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Originally Posted by khyberkitsune

Have you guys heard that WF just got found guilty of rearranging transactions in order to get the most overdraft fees out of you?

Those of you that have encountered this (especially collectives) should be suing to get a piece of that pie.

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they did that to us!!!!!
i went STORMING in there and after 15 minutes of speaking to managers and blah blah blah they pretty much told me to leave because they don't care.