2 of Canada's top banks back away from marijuana industry

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Image Courtesy of CBC News
Image Courtesy of CBC News

By Alexandra Posadzki, The Canadian Press, September 12, 2016 

Business clients with Scotiabank, Royal Bank scramble to find other financial institutions

Scotiabank and the Royal Bank of Canada say they aren’t providing accounts to companies associated with the marijuana industry, leaving some business owners scrambling to find alternate arrangements.

After a decade-long relationship with Scotiabank, Hemp Country owner Nathan MacLellan says he received a letter from the bank late last month stating his account was being cancelled.

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