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The Evident Need For Banking Reform In The Legal Marijuana Industry, Jonathan T. James, Steven C. Tippins

Journal of Sustainable Social Change

Marijuana reform legislation has created a lucrative industry for legal marijuana on the local and state level in some jurisdictions. Federal laws have forced legal marijuana dispensaries to be cash-only businesses with limited banking options. The lack of normal banking services has also affected firms’ ability to manage profits earned from operations. Our hermeneutic phenomenological study was grounded by the conceptual framework of the motivations of humans and humans’ need to feel safe. The participants in this study were owners and operators in the legal marijuana industry in Colorado. Data were collected through interviews, although the Coronavirus (COVID-19) pandemic of …