STRATEGIC PARTNERS
July 16, 2019
Customers at a marijuana dispensary in Reno, Nevada, can pay using a credit card, but the credit card statement will identify the dispensary as food truck, according to a Reno Gazette Journal report.
The tactic, according to cannabis business experts, is intended to evade federal banking regulations and increase profits.
Patrons using their credit card at the Blum dispensary receive a statement saying the purchase was made at the "Midgrun Eats LLC food truck."
Calls to all six Blüm dispensaries in California and Nevada confirmed all the outlets takes credit cards, which is unusual in the marijuana industry. The company declined to comment on the matter.
The dispensary, according to business experts, could face banking fines and possibly a federal inquiry.
The U.S. Attorney's Office in Nevada did not confirm or deny an investigation is taking place.
