CAN: Banks are still shutting out cannabis businesses

Nearly three years after Canada legalized cannabis, many retailers in B.C. say they still struggle to find access to basic financial services from banks.

International pressure and decades of stigma around cannabis still plague the fledgling industry, forcing shop owners to dig into their savings to open their small businesses and limiting the sector's growth, industry experts told CBC News.

Charles Varabioff, owner of Kingsway Cannabis in Vancouver, says finding a bank to take on his business account was next to impossible.

"I tried every single one of them. And every one [of the banks] was, 'No, no, no, no, no,'" he said.


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