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image of row of marijuana plants in a growing facility Source: Shutterstock.

The number of credit unions and banks serving marijuana-related businesses declined in 2020, according to a new report from the Financial Crimes Enforcement Network.

At the end of last year, 515 banks and 169 credit unions were providing banking services to MRBs. Those numbers were down from 2019 when 559 banks and 180 credit unions were serving MRBs, FinCEN’s quarterly Marijuana Banking Update showed.

Peter Strozniak

Credit Union Times

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