Oregon bank opens doors to Colorado marijuana businesses

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January 21, 2015

An Oregon bank is openly offering service to the marijuana industry in Colorado at a time when banks here are lurking mostly in the shadows.

MBank, based outside Portland, is part of a growing number of financial institutions, mostly Washington-based credit unions, that are banking openly with marijuana businesses.

But it is the first to venture across state lines and the only bank to announce publicly that it is serving Colorado marijuana businesses.

The bank said it also is taking marijuana-related deposits in Washington, the other state where recreational pot is legal and has been serving Oregon-based medical marijuana dispensaries since September.

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