financial

Florida's First Green Bank started serving the state's medical marijuana industry with much fanfare this year, boasting that it was the only financial institution in the state willing to work with marijuana businesses. "I suspect we'll have the entire industry by [the fall]," the bank's founder...

A government-owned banking system in California could be the answer for cannabis businesses struggling to open bank accounts and pay their taxes. This is just one of several proposals being presented by California Treasurer John Chiang to help legitimize the state's cannabis industry from a...

The New York Times reported last week that American banks are putting pressure on their Uruguayan counterparts to close the accounts of anyone registering incomes from the commerce of cannabis in the country. Even though recreational cannabis use is legal in Uruguay, and the industry is being...

One decision by a major bank could mean trouble in the not-too-distant future for marijuana stocks. PNC Financial Services is shutting down the bank accounts for a major advocacy group for marijuana legalization, the Marijuana Policy Project (MPP). According to The Washington Post, Nick...

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...

When the federal government issued policy guidance in 2014 as to how financial institutions (FIs) could permissibly service marijuana-related businesses (MRBs), industry reaction was swift and decisive — most FIs wanted nothing to do with the perceived reputational risks associated with...

A study released this week shows that Oregon residents, by an overwhelming majority, feel working with the marijuana industry does not damage the reputation of financial institutions. The survey also indicates banks and credit unions might enhance their standing and attract new customers in...

David Dinenberg's a pretty adventurous guy. A few years back, he dropped out of the established real estate development game and moved cross-country to tap into an industry in its infancy. Now, the founder of Los Angeles-based Kind Financial is embarking on a new adventure in the legal...

Baltimore - State regulators have given preliminary approval to a revised plan for scrutinizing the financial histories of those seeking licenses to grow and dispense medical marijuana. The policy committee of the Natalie M. LaPrade Medical Cannabis Commission scrapped a proposal last week...

Baltimore - State regulators have given preliminary approval to a revised plan for scrutinizing the financial histories of those seeking licenses to grow and dispense medical marijuana. The policy committee of the Natalie M. LaPrade Medical Cannabis Commission scrapped a proposal last week...

Salem, Oregon - An amendment to aid marijuana businesses seeking financial services passed the Senate Appropriations Committee on June 16. The amendment, sponsored by U.S. Sen. Jeff Merkley of Oregon, would bar federal banking regulators from preventing or penalizing banks for providing...

"The federal government should not be forcing Oregon's legal marijuana businesses to carry gym bags full of cash to pay their taxes, employees and bills", said Senator Jeff Merkley. Banks wishing to do business with the marijuana industry without fear of government reprisal inched closer to...

Growing up, Lamine Zarrad learned the hard way what it's like to be a disenfranchised outsider. Born in Azerbaijan, Zarrad and his parents fled ethnic conflict in the former Soviet republic in the 1990s and ended up living in a freezing former lithium processing factory in Moscow. Surrounded by...