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Bags Stuffed With Cash Add to Pressure for Cannabis Banking Law

Aug. 7, 2019, 12:41 PM

Senator Jeff Merkley once shadowed a cannabis grower and dispenser as he tried to pay his state taxes. He stuffed a backpack with $70,000 in $20 bills and drove 50 miles—unguarded—with the bulging bag in the back seat. Once he arrived at the Oregon Department of Revenue, he went through multiple rounds of security to deposit his satchel in a room packed with guards looking after the millions of dollars pouring in from other cannabis companies.

Merkley, a Democrat from Oregon, likes to recount the story to show the lunacy of the federal government’s treatment of the cannabis industry. Legal ...