California hopes to take lead on fixing marijuana banking troubles in 2017
Newly legalized state, California hopes to take the lead in giving the industry access to marijuana banking services in 2017.
View ArticleIllinois treasurer asks Trump to give banks assurance about marijuana businesses
Michael Frerichs urges Trump to give assurance that responsible financial institutions will not face penalties for working with marijuana businesses.
View ArticleLive in a legalized state? Here are 9 ways federal marijuana laws are...
Here are nine ways federal marijuana laws are impacting both everyday cannabis consumers and people attempting to work in the industry, no matter what their state law says.
View ArticleCannabis businesses flood Oregon towns with cold hard cash
Some Oregon communities are seeing a large amount of cash in the economy thanks to strict regulations keeping banks away from marijuana businesses.
View ArticleA billion-dollar industry with nowhere to bank: California's marijuana biz...
Despite legalization in California and elsewhere, the sale of marijuana remains illegal under federal law — so it’s a largely cash-only enterprise.
View ArticleNew federal bill would allow banking for marijuana businesses
A federal marijuana banking bill co-sponsored by U.S. Representatives in Colorado, Washington and Alaska would allow banks to serve cannabis businesses without fear of federal penalties.
View ArticleGanjapreneurs look to Bitcoin as big banks reject their money
Cannabis companies are turning to the world's most popular digital currency in an effort to get rid of all that cash.
View ArticleMarijuana Policy Project's bank closing account amid fears of DOJ crackdown
Marijuana Policy Project, an advocacy group, says PNC Bank has notified it that it will close the organization's 22-year-old accounts, a sign of growing concerns in the financial industry that the...
View ArticleColorado marijuana credit union ready to try again after "historic" ruling,...
A Denver marijuana credit union will reapply for a master account with the Federal Reserve Bank of Kansas City, says the CEO of Fourth Corner Credit Union.
View ArticleCannabis cash conundrum: Some businesses bury money, others truck it to a...
Cannabis and banking industry trade groups, attorneys, and regulators are working to bring the marijuana industry into the financial mainstream.
View ArticleLos Angeles might create its own bank for the cannabis industry (among others)
Los Angeles city leaders are looking into the possibility of a public bank that would do business with marijuana dispensaries, which are currently cash-only.
View ArticleRiding along on a nail-biting trip to pay cannabis taxes
Fear is a constant part of doing business in California's flourishing medical cannabis industry, in which transactions are conducted mostly in cash.
View ArticleState lawmakers group endorses descheduling of cannabis with eye on banking
An independent national organization that supports state legislatures has again voiced its support for federal descheduling of cannabis.
View ArticleCrowdfunding site shuts down campaign for California cannabis farm fire victims
An online payment company has shut down a fundraising campaign set up to support cannabis cultivators who’ve been impacted by the deadly wildfires in California, saying marijuana remains illegal under...
View ArticlePublic banks offer hope for cannabis industry
The formation of public banks to serve the cannabis industry is gaining acceptance among marijuana entrepreneurs and a growing number of cities and states.
View ArticleCalifornia considers "green banking" as it transitions to adult-use marijuana
California has a possible solution to the problem of banks being unwilling to handle money from the state's multibillion-dollar legal marijuana industry, one that officials say would be the first...
View Article19 state attorneys general back Colo. Rep. Ed Perlmutter's marijuana banking...
The recent rescission of prior Obama-era guidance from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for banks doing business with marijuana firms has made the need for...
View ArticleCongressmen: Rescinding marijuana banking guidance would be 'dangerous and...
A letter from Reps. Perlmutter and Heck in support of Obama-era marijuana banking guidance has been signed by 29 additional members of Congress
View ArticleSenators to U.S. Treasury: Preserve marijuana banking access
A bipartisan group of 15 senators Thursday joined the chorus of Congress members calling on the U.S. Treasury’s Financial Crimes Enforcement Network’s to keep intact marijuana banking guidance.
View ArticleDenver cannabiz-focused credit union gets OK from Federal Reserve -- with...
The Federal Reserve Bank of Kansas City on Feb. 2 conditionally granted a master account to The Fourth Corner Credit Union.
View ArticleWith marijuana banking legislation stalled, cannabusinesses awash with cash,...
Stung by robberies in California, Colorado, Washington and other states, the cannabis industry is pressing Congress to change federal banking laws so that its retailers no longer have to carry and...
View ArticleFeds working on new marijuana banking guidance, Treasury Secretary Mnuchin...
"I can tell you that it's at the top of the list and we're working on it as we speak," Mnuchin told Oregon Rep. Earl Blumenauer.
View ArticleSens. Lisa Murkowski, Jeff Merkley pinning new marijuana banking measure to...
The measure would prevent federal officials from being able to punish banks simply "because the depository institution provides or has provided financial services to a cannabis-related legitimate...
View ArticleAlaska marijuana testing lab closes, leaving only 2 in state
Steep Hill Alaska, of Anchorage, declared in an Instagram post that the lab is “suspending cannabis testing operations on March 31.” The post Alaska marijuana testing lab closes, leaving only 2 in...
View ArticleIllinois' medical marijuana industry is about to lose its main bank
“The Bank of Springfield will not jeopardize any of their customers by working with businesses that operate in the legal gray zone,” a bank spokesman said. The post Illinois' medical marijuana industry...
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