Banking Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

What Makes Cannabis Banking Programs Unique and Stand Out from Others

September 12, 2024
Paul Dunford
Banking, Finance & Real Estate, Social Equity
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By Paul Dunford Considering there is no other industry today where a business can be engaged in activities that are simultaneously prohibited under federal law but sanctioned by the state, banking cannabis (marijuana specifically) is inherently unique. Through FinCEN’s 2014…

Building and Running a Successful Cannabis Banking Program

By: Paul Dunford, Co-Founder & VP of Knowledge at Green Check As the cannabis industry continues to grow, financial institutions are increasingly exploring opportunities to bank cannabis-related businesses (CRBs). Engaging with the industry offers opportunities for growth, but with that…

Safe Harbor Financial’s Year of Living Dangerously

November 28, 2023
Tom Hymes
Banking, Finance & Real Estate, News & Insights, Spotlight
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Denver, Colorado-based Safe Harbor Financial (Nasdaq: SHFS) was profiled by Cannabis Business Executive back in February 2022, in the middle of a De-SPAC transaction that, once completed, would greatly expand the fintech platform’s reach and ability to provide its long-established…

Cannabis Banking Today

By Vince Sliwoski, Principal at Harris Sliwoski We are helping build out another cannabis banking program here in Oregon. My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to…

From SAFE to SAFER, New Banking Bill Stresses Safety

September 21, 2023
Tom Hymes
Banking, Finance & Real Estate, News & Insights
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With a presidential election year looming, the politics of pot is once again front and center in Washington, D.C., but this time there seems to be a greater probability than ever before that something significant will be accomplished. Yesterday, a…

How Regtech Is Simplifying Cannabis Compliance

April 19, 2023
Marion Mariathasan
Banking, Finance & Real Estate, Compliance, Compliance and Regulations, Insurance, Op-Ed, Science and Technology
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By Marion Mariathasan There is no doubt that 2023 has been a bumpy start for many in the cannabis sector. A bear market is obliterating company valuations. Federal reforms are moving at a glacially slow pace. Inflation continues to choke…

Paybotic Is Quietly Building a Financial Services Ecosystem for the Cannabis Industry

February 20, 2023
Tom Hymes
Banking, Finance & Real Estate, Company Stories, News & Insights
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Based in West Palm Beach, Florida, where it recently celebrated the relocation of its corporate headquarters, financial services provider Paybotic has been focused on the cannabis and hemp industries since 2013, when it serviced its first cannabis merchants in Colorado’s…

FundCanna Goes Where Banks Fear to Tread

January 17, 2023
Tom Hymes
Banking, Finance & Real Estate, News & Insights, Spotlight
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Founded in 2021, Solana Beach, California-based FundCanna offers a growing repertoire of financial products to cannabis businesses in need of funds. Specializing in loans that target small to medium-sized businesses, but also able to meet the needs of larger companies,…

Weed’s Workaround to the Banking System Is Getting Shut Down

Systems that took bank cards at dispensaries are affected, The technique had moved $7 billion around the banking system Marijuana shops across the US are rushing to find alternative ways for customers to pay after networks that supported a popular workaround…

Pennsylvania Governor Signs Cannabis Banking and Insurance Protections into Law

It is official. On July 11, 2022, Pennsylvania Governor Tom Wolf signed House Bill 331 into law, ostensibly making the Commonwealth safer for financial institutions and insurers that want to do business with the state’s medical marijuana industry. In relevant part, the new…

Cannabis banking reform is almost here. What happens next?

June 3, 2022
AggregatedNews
Banking, Finance & Real Estate, News & Insights
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DAILY SHOW INTRO: From Comedy Central’s News Headquarters in New York, this is the Daily Show — with Trevor Noah. BRENDAN PEDERSEN: Do you remember how this country used to talk about weed? Specifically how paid communications professionals used to…

Mixing Cannabis and Psychedelics Business

by Griffin Thorne, Attorney @ Harris Bricken Many cannabis companies are thinking about creative ways to pivot into the developing psychedelics market. One of the questions I hear most frequently hear is whether this is a good idea. It’s one…

Ten “Must Haves” for Cannabis Businesses in 2022

By Hilary Bricken, Principal at Harris Bricken I started as a lawyer in the cannabis industry in 2010. Twelve years in there has been immense progress and maturation at the business level for cannabis licensees. This post is dedicated to…

Industry Rocked As Leading UK Bank Shuts Its Doors To Cannabis Businesses

January 11, 2022
Ben Stevens
Banking, Finance & Real Estate, United Kingdom
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METRO Bank, one of the few institutions in the UK open to working with cannabis-related companies, is now closing its doors to the sector. The bank, which became the first high street bank in over 100 years to open in…

Understanding Dispensary Cash Flow and How to Manage It

By LaKia Bourne and JoAnne Williams There’s no question that the cannabis industry is growing, and growing rapidly. While Americans have started to spend big on buds, with legal dispensaries grossing over $17.5 billion in sales this past year, the…