After a Florida Democrat said she’d take donations from the marijuana industry, Wells Fargo closed her bank account – The Washington Post

From the article:

Democratic candidate for Florida agricultural commissioner Nikki Fried said her campaign had been “kicked out of a bank for voicing support of a law that is literally codified in the Florida constitution.”

Source: After a Florida Democrat said she’d take donations from the marijuana industry, Wells Fargo closed her bank account – The Washington Post

This is a definite thing. It’s also why running a perfectly legal pot shop is rife with so much risk. You can’t use a bank. No bank, with I think the exception of some specifically created credit unions, will take money from the pot business.

This means they have a huge pile of attractive cash sitting around, and often do their payrolls in cash. They pay their taxes in cash. Nobody should have that much cash sitting. It’s a risk for armed robbery, which does happen.

Now Wells Fargo here is kind of following that down the food chain to a really stupid degree. The Democratic Candidate was asked about her stance on the medical pot industry, and then closed her account. That’s not the same as refusing legal pot dollars because the whole legality of pot is still not cool on the federal level. This is just a dick move.

This is the first time anyone has received a request of this kind of information from a bank. It’s totally them being dicks.

The actual policy is to not knowingly bank with marijuana businesses or activities related to those businesses. This politician is not in the pot business, she just supports a legally voted on business legislatively. That’s not the same. They’ve decided it’s a risk that the politician might get donations from the pot business. That’s some down the road shit right there.

Banks do this to porn actresses all the time as well. I hazily remember a gal in porn was trying to GoFundMe some medical and could not get it into a bank account because the banks would not open a business account for anyone in porn. There is NOT a federal law against porn, but here we are.

When banks decide to cut people out for their own capricious reasons, they are really making a politically charged statement on who gets to participation in the economy, and who doesn’t.