Sen. Gardener Aims for Cannabis Banking Reforms This Week
Senator Cory Gardener (R-Colorado) is planning to propose a major overhaul to banking rules for state-legal cannabis companies this week,… Read More
Cannabis News & Information
Banking
Bipartisan Cannabis Finance Legislation Supported By Banks
New legislation being crafted by Rep. Ed Perlmutter (D-CO), co-sponsored by 82 Democrats and 13 Republicans, is expected to pass… Read More
IRS Struggles With Cannabis Cash Payments, Hires Help
The Internal Revenue Service (IRS) paid a consulting company $1.7 million for help processing the large cash tax payments coming… Read More
Pete Sessions’ Replacement Won’t Block Cannabis Reform
Next year’s House Rules Committee Chairman Jim McGovern, the replacement for cannabis opponent Pete Sessions, has promised to allow open… Read More
Pennsylvania Gov.’s Office Requests Congressional Cannabis Banking Protections
On Friday, the administration of Pennsylvania Gov. Tom Wolf (D) wrote a letter to top leaders in Congress calling for… Read More
Federal Enforcement Fears Shelve CA Banking Bill
Last week, state lawmakers in California ceased consideration of a bill to create state cannabis banks due to an analysis… Read More
U.S. House Committee Rejects Cannabis Banking Measure
Wednesday, the U.S. House of Representatives’ Appropriations Committee voted down a measure designed to protect banking institutions that are willing… Read More
California Senate Advances Bill Establishing Statewide Cannabis Banking Services
The California Senate has advanced Senate Bill 930 — a.k.a. the Cannabis Limited Charter Banking and Credit Union Law — which seeks… Read More
West Virginia Treasurer Outlines Proposals to Offer Financial Services to MMJ Firms
West Virginia Treasurer John Perdue has sent a letter to Gov. Jim Justice outlining two plans to provide the state’s… Read More
California Bill Would Create Limited-Service Canna-Banks
A bill proposed in California would create limited-service banks and credit unions to serve the state’s cannabis industry, according to… Read More
Washington Break-Ins Reinforce Cannabis Banking Concerns
With a surplus of cash and cannabis products always on hand, dispensary locations are prime targets for robbery. Washington state… Read More
Illinois’ Bank of Springfield Closing All MMJ Industry Accounts
Illinois’ Bank of Springfield is closing the accounts of the state’s medical cannabis companies by May 21 leaving most of… Read More
Alaska Lab Forced to Close After Bank Calls in Loan on Building Citing Federal Law
Anchorage, Alaska’s Steep Hill has been forced to suspend operations after Wells Fargo bank called in the loan on the… Read More
West Virginia Senate Committee Approves MMJ Bill; Could Allow Flower Access
A bill approved by the West Virginia Senate Judiciary Committee would require the state Office of Medical Cannabis to create… Read More
Massachusetts Regulators Suggest State-Run Bank for Cannabis Industry
The Massachusetts Cannabis Control Commission is suggesting the creation of a state-run bank to serve the state’s canna-businesses after Chairman… Read More
Treasury Secretary Tells Committee He Supports Canna-Business Banking Access
In testimony to the House Financial Services Committee, Treasury Secretary Steven Mnuchin said he supports allowing canna-businesses access to banks,… Read More
19 Attorney Generals Send Letter to Congress Asking for Cannabis Banking Protection Legislation
Attorney generals from 17 states, Washington, D.C., and Guam have sent a letter to members of Congress urging them to… Read More
Report: FinCEN Not Consulted on Sessions’ Cannabis Policy Change
According to a report from Reuters, regulators at the federal Financial Crimes Enforcement Network (FinCEN) were not informed about Attorney… Read More
FinCEN Counts 400 Financial Institutions Providing Services to Cannabis Industry
According to September 2017 data from the federal Financial Crimes Enforcement Network (FinCEN), more than 300 banks and nearly 100… Read More
KIND Financial Launches First ‘Seed-to-Payment’ System in Canada
KIND Financial has rolled out the cannabis industry’s first-ever “seed-to-payment” system in Canada, which will allow users to track the… Read More
Uruguay Moving Legal Cannabis Sales from Pharmacies to Cash-Only Shops
Officials in Uruguay are moving retail cannabis sales from pharmacies to shops that will sell the products for cash, the… Read More
Hawaii Tabs CanPay for MMJ Industry Transactions
All eight of Hawaii’s medical cannabis dispensaries will go cashless as of Oct 1., opting instead to use the CanPay… Read More
House Committee Blocks All Cannabis-Related Budget Amendment Votes
The Republican-controlled House Rules Committee has blocked multiple cannabis-related amendments from receiving consideration by the full chamber, effectively preventing the… Read More
Dirty Green Dollars: Cannabis Taxes and the Banking Predicament
In the U.S., legal cannabis — medical and recreational — is a multi billion dollar industry which deals almost exclusively… Read More