Amex cuts off charges for medical marijuana

No explanation for the new policy, other than a decision to adhere to federal laws - even though the distribution of medical marijuana is legal in California (well, much of California) and several other states (see LA Weekly post). It's just the latest hassle for dispensaries trying to operate a business where the state and federal laws are conflicting. I recently reported in Los Angeles magazine that the major banks have snubbed dispensary owners out of fear they'll be accused of aiding drug activity. This is why full-scale legalization wouldn't necessarily turn this into a business embraced by Corporate America - federal drug laws will see to that.

More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent Politics stories:
Obama meets with victims of LAX shooting*
Maria Elena Durazo profile names a key name *
President Obama's arrival timed to rush hour (again)
Obama will visit DreamWorks Animation, Magic's home
Some USC students wish they were invited to Bush speech

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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