SPRINGFIELD, Mo (News-Leader) – Earlier this week, Great Southern Bank told the shop, CBD of Springfield it will soon stop doing business with the store.
The News-Leader reporting, the CBD shop got a letter from the bank saying quote, “due to the elevated risk associated with your account activity, we have determined that it is in the best interest of Great Southern Bank to close your bank accounts. This is due to your business being a marijuana-related business.”
The bank will close shop’s two bank accounts in late September.
A spokesperson for Great Southern says the issue stems from the inconsistency with state and federal laws.
Regulated banks must be compliant in both. The bank says it’s not taken a moral stance against marijuana-related products.
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