banking

The Sacramento Business Journal, a sister paper to the Portland Business Journal, delved into the world of cannabis-related funds last week. It's a revealing piece that examines banking issues related to legal pot sales and prominently features in Oregon. Writer Mark Anderson starts in his...

Hawaii has decided to turn its medical marijuana program into a cashless payment system in the hopes of avoiding the problems that other states and businesses have faced when dealing large sums of cash. The goal is that by October 1, all of Hawaii's licensed dispensaries will no longer use cash...

There's plenty of cash circulating in the cannabis industry. The problem is finding a place to deposit it. Cannabis businesses don't want to conduct cash-only transactions, which can pose huge safety and security risks. Manufacturers and dispensaries end up with large amounts of cash on hand...

Further spurred by the recently enacted Prop 64 legalizing recreational marijuana State Treasurer John Chiang is convening the final in a series of events geared to enable the cannabis industry to do its banking publicly. Scheduled for tomorrow in Los Angeles is the last of six meetings that...

The amendment, filed by Florida representatives Matt Gaetz and Darren Soto, was attached to the Financial CHOICE Act of 2017, which will undo much of the Dodd—Frank Wall Street Reform and Consumer Protection Act, an Obama-era law that tightened financial regulations in response to the economic...

Colorado's two U.S. Senators are leading a new bipartisan effort to provide banking for marijuana businesses. Democrat Michael Bennet and Republican Cory Gardner are co-sponsors of the legislation. "The lack of access to banking services for marijuana businesses is a key issue in...

There’s so much money to be made in cannabis, but not a lot of places where you can put it. Federal law prohibits commercial banks and credit unions from working with businesses that sell or manufacture cannabis products, which means they can’t open accounts or obtain loans. That’s why you’ll...

For years, lawmakers have introduced marijuana banking bills that have gone nowhere. Now, comes a new bill -- this one has the backing of Republican Sen. Cory Gardner and Democrat Sen. Michael Bennet. But it also includes sponsorship from Massachusetts Democrat Sen. Elizabeth Warren and...

While the legal marijuana industry already generates billions of dollars across the United States, the industry has one big difference with other sectors of the economy. The majority of those transactions happen in cash. Because federal law continues to list marijuana as an illegal drug, banks...

Democratic firebrand Senator Elizabeth Warren is known for championing the working class. Now Warren is pushing to create a framework that would allow marijuana-based businesses to access the banking system. If the question of whether your friendly neighborhood cannabis cooperative can access...

California hopes to take the lead in giving the cannabis industry access to banking services in 2017, with a new working group focused on finding a solution to ongoing conflicts between state and federal laws that force marijuana businesses to operate largely in cash. The Golden State has a...

Boston – As marijuana shops sprout in states that have legalized the drug, they face a critical stumbling block — lack of access to the kind of routine banking services that other businesses take for granted. U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, is leading an effort to make...

Despite Proposition 64's clear mandate to end adult cannabis prohibition in California, a significant hurdle remains: how to legalize banking services for the newly legalized industry. Cannabis is a multibillion-dollar cash-only business in our state, which invites money laundering, tax...

Despite the many innovative services in the digital age, conventional banking remains important to newly-established businesses; banking cannot yet be replaced by online financial services such as crowdfunding or PayPal, say Professor Jan Riepe and Markus Merz from the University of Tübingen in...

Los Angeles - California Treasurer John Chiang has formed a group to study banking issues he says could hamper implementation of the voter-approved ballot measure that legalizes recreational use of marijuana in the state. Chiang plans to discuss the Cannabis Banking Working Group in a...

California Treasurer John Chiang has formed a group to study banking issues he says could hamper implementation of the voter-approved ballot measure that legalizes recreational use of marijuana in the state. Chiang plans to discuss the Cannabis Banking Working Group in a conference call with...

As John Murphy worked to set up his marijuana producing and processing business, he ran into one major problem: banking. One bank's employees wouldn't talk to him about marijuana inside the building - only in the parking lot. One offered him a checking account, but only if he was willing to...

U.S. SENATE COMMITTEE APPROVES MARIJUANA BANKING A new measure has been approved by the U.S. Senate Committee that would allow banking institutions to offer financial services to marijuana businesses. State-legalized marijuana businesses will soon be able to operate as a traditional business...

U.S. SENATE COMMITTEE APPROVES MARIJUANA BANKING A new measure has been approved by the U.S. Senate Committee that would allow banking institutions to offer financial services to marijuana businesses. State-legalized marijuana businesses will soon be able to operate as a traditional business...

Just four years after Washington and Colorado led in legalizing recreational uses of marijuana, the pot train has left the station. Twenty-five states and the District of Columbia allow legal marijuana access in some form, with legislatures in Ohio and Pennsylvania approving medical marijuana...