"In October of 2009, upon Nature's Nexus' inception, the board opened a bank account at Butte Community Bank with full disclosure of our type of entity. In the fall of 2010 Butte Community Bank was taken over by Rabobank. At that time we inquired if there would be any changes that would affect our account. We were assured that there would be no major changes.

Despite the perfect standing that the Nature's Nexus bank account held for the full 16 months at Rabobank, we were contacted on January 21, 2010 (sic, I'm sure they must mean 2011) at 1pm and told that effective February 1, 2010 (6 business days later) that our account would be closed. Not having a bank account posed numerous operating concerns, especially our ability to accept credit/debit cards. After searching through every local bank in Shasta, Trinity and Humboldt counties, the Nature's Nexus board finally located River City Bank in Sacramento, CA who would accept our account. We are now happily (but not conveniently!) banking in Sacramento." http://nnredding.files.wordpress.com...ter-feb-11.pdf
anotherjeff Reviewed by anotherjeff 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