Federal Regulators Lift Hemp Industry Banking Barriers
Wed / Dec 4th
Federal financial regulators will no longer treat hemp businesses as suspicious, removing a major barrier between hemp-related businesses and traditional… Read More
Cannabis banking remains a huge challenge for legal cannabis business owners. Though the market was legalized on the state level, it remains federally illegal. Since banking is a federally regulated market, banks and lenders are not able to easily work with cannabis brands. The headache goes beyond not having a bank for their business. 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:
Wed / Dec 4th
Federal financial regulators will no longer treat hemp businesses as suspicious, removing a major barrier between hemp-related businesses and traditional… Read More
Mon / Oct 14th
California Gov. Gavin Newsome (D) signed a bill into law on Saturday that will override the infamous Section 280E of… Read More
Wed / Sep 25th
H.R. 1595, better known as the SAFE Banking Act, received a full House floor vote this afternoon, passing the chamber… Read More
Fri / Sep 20th
Despite opposition from some cannabis legalization and social justice groups, the SAFE Banking Act is set for a House vote… Read More
Thu / Sep 19th
A cadre of legalization activists have sent a letter to House Speaker Nancy Pelosi (D-California) and Majority Leader Steny Hoyer… Read More
Mon / Sep 16th
House Majority Leader Steny Hoyer (D-Maryland) is planning to put the SAFE Banking Act up for a full floor vote… Read More
Tue / Aug 20th
The National Credit Union Administration has issued guidance allowing credit unions to serve hemp businesses, noting that the plant has… Read More
Wed / Jul 24th
The Senate Committee on Banking, Housing and Urban Affairs held a hearing aimed at the banking challenges for the cannabis… Read More
Wed / Jul 17th
A key Republican-controlled Senate committee plans to investigate the lack of banking services for state-legal cannabis companies, Tom Angell reports… Read More
Mon / Jul 15th
The West Virginia Treasurerās Office has canceled and reissued its request for proposals for financial institutions to serve the stateās… Read More
Wed / Jul 10th
Activism, healing, empowerment ā these are important foundations for the Sisters of the Valley, a group of self-described cannabis nuns… Read More
Mon / Jun 17th
Medical cannabis company Columbia Care has launched its own credit card for patients in New York, with plans to offer… Read More
Wed / Jun 12th
Despite federal hemp reforms last year, many CBD-focused companies throughout the U.S. still lack basic financial services, such as business… Read More
Wed / May 22nd
Californiaās Senate has approved legislation 35-1 to create state-chartered banks to serve the stateās cannabis industry, CNBC reports. Under the… Read More
Thu / May 2nd
The founder of Californiaās Sisters of the Valley, Sister Kate, says her bank has frozen the organizationās business accounts following… Read More
Wed / May 1st
Idaho Sen. Mike Crapo, the Republican chairman of the Senate Banking Committee, said he would not commit his committee to… Read More
Mon / Apr 22nd
The West Virginia Treasurerās Office is now seeking a financial institution to work with the stateās medical cannabis industry with… Read More
Mon / Apr 8th
At least two Canadian banks are refusing to do business with U.S.-based cannabis companies due to cannabisā Schedule I status… Read More
Wed / Apr 3rd
West Virginia Gov. Jim Justice has signed legislation allowing medical cannabis companies to access banking services in the state. According… Read More
Thu / Mar 28th
The Secure and Fair Enforcement (SAFE) Banking Act was approved by the House Financial Services Committee in a sweeping 45-15… Read More
Thu / Mar 21st
The House Financial Services Committee is set to vote on Tuesday on legislation to protect banks that work with the… Read More
Thu / Mar 7th
The state Senate of West Virginia has passed a bill that would enable banking services access for medical cannabis companies,… Read More
Thu / Feb 21st
After receiving its first hearing before the House Financial Services Committee, the passageĀ of the Secure and Fair Enforcement (SAFE) Banking… Read More
Fri / Feb 15th
A bipartisan bill to allow cannabis businesses to access banking services in the U.S. got its first-ever committee hearing in… Read More