Bank of Springfield is ending its business relationship with medical marijuana businesses in the state… after the Trump administration withdrew previous policies that protected financial institutions who served pot growers and dispensaries.
The Chicago Tribune reports Bank of Springfield was one of the main Illinois banks serving medical marijuana businesses.
If those businesses cannot find another financial provider, they may be forced to begin doing business on a cash-only basis.
A spokesman for Springfield’s HCI Alternatives says the company is working on talking to other institutions about transferring its accounts.