Cannabis banking remains a huge challenge for legal cannabis business owners. Since banking is a federally regulated market, banks and lenders are not able to easily work with cannabis brands. The high cash intake of the cannabis industry combined with the lack of banking establishment can put businesses in a dangerous position. Read about banking regulations, policies, and more in this category:
Thu / Sep 7th
The Republican-controlled House Rules Committee has blocked multiple cannabis-related amendments from receiving consideration by the full chamber, effectively preventing the… Read More
Thu / Sep 7th
In the U.S., legal cannabis — medical and recreational — is a multi billion dollar industry which deals almost exclusively… Read More
Fri / Sep 1st
Six of Florida’s seven licensed medical cannabis companies are doing business at First Green Bank, an Orlando-area financial institution founded… Read More
Mon / Aug 21st
International anti-money laundering laws are forcing banks to abandon Uruguayan pharmacies legally selling cannabis, according to a Business Times report.… Read More
Tue / Aug 8th
The National Conference of State Legislatures, a bipartisan non-government organization, has passed a resolution calling for the removal of cannabis… Read More
Thu / Jul 20th
Partner Colorado Credit Union has created a Credit Union Service Organization to serve other credit unions interested in serving the… Read More
Tue / Jul 4th
A decision last week by the 10th U.S. Circuit Court of Appeals may allow plans for the world’s first banking… Read More
Fri / Jun 30th
One of the first things you learn in high school civics class is that there is federal law, and then… Read More
Thu / Jun 22nd
PNC Bank is closing the accounts of the Marijuana Policy Project after an audit revealed that the organization received funding… Read More
Fri / May 5th
The dangers, inefficiencies, and potential for loss due to the cannabis industry’s cash-dominated system are well documented – and while… Read More
Tue / Jan 3rd
A bipartisan group of U.S. senators has sent a letter to the Financial Crimes Enforcement Network urging the agency to… Read More
Mon / Nov 14th
According to recent data from the Associated Press, there are now more than 300 U.S. banks and credit unions that… Read More
Wed / Sep 28th
While most canna-businesses are left without access to traditional financial institutions, some Colorado companies are turning to non-traditional enterprises in… Read More
Mon / Sep 12th
Two of Canada’s big banks, Scotiabank and the Royal Bank of Canada, are no longer providing accounts to marijuana businesses,… Read More
Mon / Aug 1st
Denver, Colorado-based Partner Colorado Credit Union is providing services to about 20 cannabusinesses in the state, with plans to add… Read More
Fri / Jul 15th
The Des Plaines, Illinois-based Millennium Bank entered into a consent order with the Federal Deposit Insurance Corp and the state’s… Read More
Fri / Jun 17th
The U.S. Senate Appropriations Committee voted Thursday in support of expanding bank access to the cannabis industry. The amendment, approved in a 16-14 vote,… Read More
Tue / Mar 8th
We recently published an update about banking issues commonly encountered when operating in or near the cannabis industry. These issues remain unsolved,… Read More
Tue / Mar 1st
For all the successful reforms and increasingly marijuana-friendly attitudes among politicians — not to mention a relentless, nation-wide cultural backlash against the failed… Read More
Wed / Feb 17th
A bill designed to ease banks’ fears about providing services to the marijuana industry, HB 4094, passed in the Oregon… Read More
Mon / Feb 1st
Cannabis and banking have been at odds since legalization first touched down in Colorado and Washington — but now, a Chase… Read More
Wed / Dec 30th
A little over a year ago, the Fourth Corner Credit Union announced its plan to become the first banking institution… Read More
Wed / Oct 21st
In an opinion piece on the Huffington Post, California Board of Equalization (BOE) member Fiona Ma called for California to… Read More
Fri / Oct 16th
Sales of Colorado cannabis broke the $100 million mark in August for the first time. Recreational sales made up $59.2… Read More
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