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Marijuana banking confusion snags WA hemp clothing company

19 Oct Marijuana banking confusion snags WA hemp clothing company

A Washington state clothing company has lost its bank account – even though it doesn’t work with marijuana – because of the use of hemp in its products. Owners of the natural-clothing company Rawganique in Blaine say they were shocked when Umpqua Bank – which is headquartered in Portland, Oregon – informed them it would no longer work with the company because it’s in a “marijuana-related industry.” According to The Northern Light newspaper, Rawganique does not grow hemp nor manufacture hemp products. Instead, Rawganique makes hemp products using imported hemp, including clothing, hempseed oil, hempseed butter, hemp protein powder and rope. ... Marijuana banking confusion snags WA hemp clothing company is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

The post Marijuana banking confusion snags WA hemp clothing company appeared first on InvestinCannabis.com.

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