Yellen would welcome US legislation to aid cannabis banking access March 21, 2024 AggregatedNews Banking, Finance & Real Estate, Federal 0 Comments U.S. Treasury Secretary Janet Yellen said on Thursday she would welcome legislation that would rectify the conflict between federal and state laws on the sale and use of marijuana that is preventing cannabis firms from accessing the banking system. Asked… Read More→
High & Dry: Banking crisis to further choke funding for cannabis sector March 24, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments March 24 (Reuters) - The global banking turmoil threatens to squeeze U.S. cannabis companies already struggling with meager funding sources by drying up support from regional lenders and tightening fundraising from alternative avenues. Most U.S. banks do not service cannabis… Read More→
Cannabis banking supporters scramble to reach lame-duck deal November 25, 2022 AggregatedNews Federal 0 Comments The Senate is trying to get a package of cannabis-related legislation over the finish line in this Congress. Urgency is building in the Senate to get cannabis legislation passed before the year is over. The specter of a Republican-led House… Read More→
Cannabis crime wave boosts banking prospects on Capitol Hill May 10, 2022 AggregatedNews Banking, Finance & Real Estate, Federal, Policy & Legal 0 Comments Weed businesses struggle to bank in the U.S., leaving cash on the premises. Jordan Brown, a 29-year-old budtender, was shot and killed on March 19 during his shift at World of Weed in Tacoma, Wash. Joshua Chase, owner of Oakanna… Read More→
Pot shop robberies are fueling calls for a U.S. banking bill April 26, 2022 AggregatedNews Banking, Finance & Real Estate 0 Comments A surge in robberies at licensed cannabis shops — including a pistol-whipping, gunshots and killings in Washington state last month — is helping fuel a renewed push for federal banking reforms that would make the cash-dependent stores a less appealing… Read More→
Hickenlooper: Law preventing cannabis business banking ‘a recipe for disaster’ December 2, 2021 AggregatedNews Banking, Finance & Real Estate 0 Comments Lawmakers on both sides of the aisle said Wednesday that federal law prohibiting cash-only cannabis businesses from using banks must be changed. Despite recreational marijuana being legal in 18 states and the District of Columbia, it is still classified as… Read More→
U.S. pot sellers stash cash as banks leave them high and dry May 27, 2021 AggregatedNews Banking, Finance & Real Estate 0 Comments The U.S. cannabis business has a very particular cashflow problem -- too much of it. Marijuana can be sold legally in 36 U.S. states and the District of Columbia (D.C.) for medical use and in 15 of them and in… Read More→
Banking in Cannabis 2021: What to Expect This Year April 26, 2021 Travis Steffen Banking, Finance & Real Estate 0 Comments The U.S. cannabis industry has seen major growth over the last few years in regard to both new legalizations across the country and record-breaking retail sales year-over-year. However, banking and payments have largely remained a stagnant and ongoing hurdle for… Read More→
The Pros and Cons of Cannabis and Cryptocurrency May 6, 2019 Susan Gunelius Banking, Finance & Real Estate 0 Comments If you’ve been in the cannabis industry for a while, you’ve probably heard one or both of the following statements on multiple occasions: Cryptocurrency is the solution to the cannabis industry’s banking problem. Cryptocurrency will destroy the cannabis industry. Which… Read More→
Follow the Money: Managing Cash in Cannabis March 16, 2019 Gary Cohen Banking, Finance & Real Estate, Retail, Science and Technology 0 Comments By Gary Cohen Chatter surrounding cannabis and banking is loud. The Senate Consumer Protection and Financial Institutions subcommittee held a hearing on access to banking for state-legal cannabis businesses. The House Financial Services committee held its first-ever hearing on the… Read More→
Treasurer still working on solution to medical marijuana banking crisis April 2, 2018 AggregatedNews Banking, Finance & Real Estate, West Virginia 0 Comments CHARLESTON — State Treasurer John Perdue plans to join forces with treasurers in at least 10 other states to ask Congress to change federal laws surrounding medical marijuana. The move is part of Perdue’s plan to try to solve banking… Read More→
Where Pot Entrepreneurs Go When the Banks Just Say No January 5, 2018 AggregatedNews Banking, Finance & Real Estate 0 Comments As the legal markets for marijuana spread, a small credit union is solving a big problem: what to do with all the cash. The small burgundy satchel bore the hallmarks of rugged craftsmanship: top-grain leather, double stitching on the straps.… Read More→
How to Open a Marijuana Bank Account October 12, 2016 Steve Owens Banking, Finance & Real Estate 1 Comment According to the Associated Press (AP), more than 300 banks and credit unions (institutions) in the United States now handle marijuana money. This is almost a 500% increase from early 2014. There are more than 25 states with some form… Read More→
Cannabis Banking Issues: All Cash and Not A Lot of Protection June 1, 2016 Steven Schain Banking, Finance & Real Estate 0 Comments By Steven Schain Ever accidentally find $5.4 billion of cash in your back pocket? The cannabis industry did in 2015, after virtually no bank would accept Âlegalized marijuana sales deposits. Instead, because the Comprehensive Drug Abuse Prevention and Control Act,… Read More→
Banking & Finance April 22, 2016 Jerry King Banking, Finance & Real Estate, Cartoons, Op-Ed 0 Comments Read More→