Jamie Dimon Says JPMorgan Chase ‘Probably Would’ Provide Services To Cannabis Industry Once Federal Laws Permit
JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon indicated that the largest bank in the U.S. “probably would” provide banking services to marijuana businesses if/when federal laws permit.
Dimon’s comments, made during a recent episode of the firm’s podcast, will likely spark optimism within the cannabis industry, which has long struggled with the numerous obstacles of not having access to traditional financial and banking services due to its onerous classification as a Schedule I substance.
Debanking? Cannabis Comes To Mind
What Happened: In response to a comment about debanking made by venture capitalist Marc Andreessen on Joe Rogan‘s podcast, Dimon launched into how debanking works at JPMorgan Chase. Apparently, cannabis came to his mind.
“I wanted to explain to him [Marc Andreessen], we have not …