Bank of Montreal and Toronto-Dominion Lead Peers in Pot Accounts

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Bank of Montreal and Toronto-Dominion Lead Peers in Pot Accounts

Flickr / Rajiv Patel (Rajiv's View) / (CC BY-ND 2.0)

Bank of Montreal and Toronto-Dominion Bank are emerging as the banks of choice for Canada’s burgeoning marijuana industry, even as some lenders shun the sector.

With less than a year to go before Canada plans to legalize recreational pot in July, and 16 years after making it legal for medical use, Bank of Montreal and Toronto-Dominion are providing business accounts to at least 21 cannabis companies, according to interviews with 45 firms tied to the drug.

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