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.