ok, first things first, the legality of what Ohnoyadont said is true. technically and legally, it really is true. HOWEVER, banks closing accounts because your income is from a "Controlled Substance" is BS. They can't do it unless they can prove it in black and white. and they are required to notify you at least 5 business days before the closing of your account. The friend of yours that this happened to may have just had someone at the bank pissed off at them. or someone that was pissed at them may have had influence on the bank employees and had something done. both are very realistic, and more likely than what he's been told, or at least told you he's been told, happened. not bashing anything you've said, im just callin em like i see em.
scotisativa90 Reviewed by scotisativa90 on . Legal: Bank accounts I am hearing from some of the dispensories in Redding that they rec'd letters from their banks informing them that their bank accounts are being closed. The letters cite a notification that they rec'd from FDIC stating that marijuana is a controlled substance according to federal law and that their FDIC charter prohibits them from making money from doing business with an individual or company that has income by violating federal law. How about THAT? My lawyer says that will make Rating: 5