A whopping 44% of Oregon residents polled said banks who support the cannabis industry would be seen favorably according to a recent poll conducted by DHM Research.
Voters may have legalized marijuana in several states. The next step is to move the federal government forward to allow legalized marijuana businesses access to federal banks, too. The government is here to serve the people, so the people need to get involved to spur change.
What do the people think about marijuana and banking? Well, DHM Research decided to find out, by reaching out to 800 Oregonians a little over a year after their state legalized recreational marijuana.
Their questions focused on whether the public had a positive or negative position of the banking industry, the marijuana industry, and their interactions. There was an overwhelmingly positive support for credit unions and regional banks, with an almost equally negative view of large banks. About two-thirds have a positive view of legalized recreational marijuana. To put that number in perspective, less than one-fifth has a positive opinion of the pharmaceutical companies.
What do customers think about their bank doing business with the cannabis industry? Only 12% said their opinion of the financial institution would decline, compared with 44% who said it would improve their opinion. With an almost equal number of 43% saying that it would not affect their opinion, means that the Oregonian public ultimately sees banks agreeing to do business with the marijuana industry is a good thing.
Logical reasons are listed as to why the banks should do business with the cannabis industry – local crime preventions, good business sense, and helps local economy. What’s the main reason people are against it? Because it violates federal laws and puts other customers at risk. Oregon has a bill in place that removes state criminal liability for financial institutions with cannabusiness customers, but the federal law still needs to be changed.