Cannabis stocks climb ahead of congressional hearing on bank access

Yaël Ossowski, deputy director at the cannabis advocacy group Consumer Choice Center, urged lawmakers to push for banking reform, outlining the risks facing companies forced to operate as cash-only businesses.

“Higher risk means cannabis companies face additional costs,” Ossowski said in a statement. “They have to hire security guards for transporting cash and paying local and state taxes, hire additional accountants to understand how to comply with existing rules and dedicate hours to organizing cash for payroll and business expenses. That ends upraising the cost of the product.”

Source: https://www.marketwatch.com/amp/story/guid/169C1734-2FA1-11E9-A92A-4EEFB091A931

Yaël Ossowski is an international consumer activist and writer. His writings and interviews have appeared in newspapers, magazines, and online outlets across the world in multiple languages. He is founder and editor of Devolution Review, deputy director at the Consumer Choice Center, and senior development officer for Students For Liberty. He was previously a national investigative reporter at Watchdog.org. He has a Master’s Degree in Philosophy, Politics, Economics (PPE) from the CEVRO Institute in Prague and a Bachelor's in Political Science from Concordia University, Montreal. He currently splits his time between Vienna, Austria and Charlotte, North Carolina.
Website https://yael.ca
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