No relief? COVID-19 situation underlines legal gray area around cannabis businesses
As industries start to total their respective losses during the COVID-19 pandemic, legal representatives of cannabis businesses are hoping their still-growing industry isn’t taking a hit.
But Charles Gormally, who co-chairs Brach Eichler LLC‘s cannabis law practice, said one of the major issues for the industry is that it’s caught in a struggle to access banking services. And, although pending federal legislation would help that cause, current restrictions on bankers mean cannabis businesses missed out on coronavirus relief programs.