• banks working with more cannabis businesses

Banks Taking On Significantly More Cannabis Businesses, Federal Data Reveals

By |July 9th, 2019|

More banks and credit unions are now working with significantly more cannabis-related businesses as of the first quarter of 2019.  A total of 493 banks and 140 credit unions were working with cannabis business customers as of March 2019, according to recent data from the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN). That is

  • attorneys general urge congress to allow cannabis banking

33 Attorneys General Urge Congress To Remove Barriers To Cannabis Banking

By |June 24th, 2019|

Billions of dollars in cash. Not just the number on a bank statement, but literally stacks upon stacks of cash. That’s what a majority of the cannabis industry in the U.S. is working with, but state attorneys general are hoping to change that. Hailing from states and territories across the U.S., 38 attorneys general urged

  • california banking bill

Cannabis Banking Bill Advances in California Senate

By |June 9th, 2019|

Where can cannabis businesses put all their cash? Most businesses would go to the bank, but that isn’t an option for this industry. But California may soon have an answer. The California Senate approved Senate Bill 51 in May to get cannabis-related businesses and landlords in the doors (and the vaults) of a trusted financial

  • marijuana banking reform making progress

Marijuana Banking Bill Gathering Steam Now Sessions No Longer AG

By |May 24th, 2019|

Federal banking regulations have prevented most banks from taking on the risk (and stacks of paperwork) that it takes to serve cannabis businesses, but the tide may soon change thanks to shake ups in Washington D.C. Cannabis legalization and regulation on the state level continues to rise, and businesses in the industry have been waiting

  • Marijuana Banking Issue must be addressed congress

Treasury Secretary: Marijuana Banking Issues Must Be Addressed Through Bipartisan Legislation

By |May 9th, 2019|

The only way out is through. Through the Congressional process, that is. That’s the message U.S. Treasury Secretary Steven Mnuchin had for Congress in April when it comes to cannabis banking. Cannabis-related businesses (and often the non-cannabis businesses that work with them) have a difficult time finding banking and financial services. Banks are hesitant to

  • cory booker not cosponsoring states act marijuana bill

Why Cory Booker Declined to Co-Sponsor The New Marijuana Bill

By |April 24th, 2019|

Like all the 2020 Democratic presidential hopefuls, Sen. Cory Booker, D-NJ, is pro-reform when it comes to cannabis. He’s made it a major part of his campaign platform, but his name was notably absent from a recent piece of legislation aimed at protecting states with legal cannabis from federal interference. Booker has been on the

  • Secure-And-Fair-Enforcement-(SAFE)-Banking-Act

Congressional Committee Approves Marijuana Banking Bill

By |April 9th, 2019|

Much-needed banking services may soon be available to more cannabis-related businesses in the U.S. than ever before as federal legislation has taken one step closer to passing a marijuana banking bill. Cannabis has been regulated either medically or for adult-use in over 30 states, but much of this billion-dollar industry has to be cash-only due

  • West Virginia Medical Marijuana Banking

Medical Marijuana Banking Bill Passed By West Virginia House

By |March 24th, 2019|

West Virginia took a major step in the fight for banking services for cannabis when the state House of Delegates passed a bill that, if adopted, would provide state protections for banks that take on cannabis-related businesses as customers. What does the bill do? The state would not be able to prohibit or penalize (or

  • marijuana banking bill in motion

A 2019 Marijuana Banking Bill Is In The Works: Draft Text Released

By |March 9th, 2019|

In the U.S., cannabis businesses have had very limited access to banking and financial services due to federal prohibition, but that may soon change as a draft bipartisan bill makes its way through the process. There have been such bills put forth that failed, as recently as last year, including an attempt to tie the