NPR logo

Colo. Marijuana Merchants Forced To Deal Mostly In Cash

  • Download
  • <iframe src="https://www.npr.org/player/embed/260409026/260409027" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Colo. Marijuana Merchants Forced To Deal Mostly In Cash

Business

Colo. Marijuana Merchants Forced To Deal Mostly In Cash

Colo. Marijuana Merchants Forced To Deal Mostly In Cash

  • Download
  • <iframe src="https://www.npr.org/player/embed/260409026/260409027" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Colorado's retailers may be allowed to sell marijuana but under federal law, the state's banks cannot knowingly do business with them. This has forced marijuana merchants in the state to operate almost solely in cash.

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.

Copyright © 2014 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.