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Tue January 7, 2014
Colo. Marijuana Merchants Forced To Deal Mostly In Cash
Originally published on Wed January 8, 2014 6:56 am
RENEE MONTAGNE, HOST:
And today's last word in business today is: cash only.
Colorado's retailers may be allowed to sell marijuana now, but under federal law, the state's banks cannot knowingly do business with them.
DAVID GREENE, HOST:
This has forced marijuana merchants in the state to operate almost solely in cash. Denver's city council, not happy. They called yesterday for Washington to change the law.
MONTAGNE: But even then, Colorado marijuana shop owners would still have a plastic problem. Official Visa, MasterCard and American Express rules prohibit the use of their debit and credit cards to purchase pot.
GREENE: Visa, it's everywhere you want to be, I guess, except if you're in the marijuana business. That's the business news on MORNING EDITION, from NPR News. I'm David Greene.
MONTAGNE: And I'm Renee Montagne. Transcript provided by NPR, Copyright NPR.