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You are here: Home / Archives for Cannabis Banking

Cannabis Banking

The Pros and Cons of Cannabis and Cryptocurrency

May 6, 2019 by Susan Gunelius Leave a Comment

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 statement is accurate? Should cannabis businesses that can’t get traditional bank accounts with affordable rates […]

Filed Under: Banking, Finance & Real Estate Tagged With: Cannabis Banking, cryptocurrency, Jordan Friedman, Wil Ralston

Follow the Money: Managing Cash in Cannabis

March 16, 2019 by Gary Cohen Leave a Comment

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 issue as well. Both took testimony from industry participants and financial institutions alike, both sides […]

Filed Under: Banking, Finance & Real Estate, Retailers, Science and Technology Tagged With: ATM, Cannabis Banking, Gary Cohen, managing cash, Ron Wyden

Treasurer still working on solution to medical marijuana banking crisis

April 2, 2018 by AggregatedNews Leave a Comment

Cannabis as Medicine West Virginia

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 problems that are holding up implementation of West Virginia’s fledgling medical marijuana program. “I support […]

Filed Under: Banking, Finance & Real Estate, West Virginia Tagged With: Cannabis Banking, John Perdue, West Virginia

Where Pot Entrepreneurs Go When the Banks Just Say No

January 5, 2018 by AggregatedNews Leave a Comment

Marijuana Banking rules medical pot businesses

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. It was wider at the bottom, sort of like an inverted funnel, and two buckles […]

Filed Under: Banking, Finance & Real Estate Tagged With: Avicenna Products, Babak Behzadzade, Cannabis Banking

How to Open a Marijuana Bank Account

October 12, 2016 by Steve Owens 1 Comment

Marijuana Banking for cannabis Canada Banks Marijuana Bank Account

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 of a legal marijuana market, and more marijuana-related bank accounts are opening every day. Companies […]

Filed Under: Banking, Finance & Real Estate Tagged With: Banking, Cannabis Banking

Cannabis Banking Issues: All Cash and Not A Lot of Protection

June 1, 2016 by Steven Schain Leave a Comment

Marijuana Banking rules medical pot businesses

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 ­legalized marijuana sales deposits. Instead, because the Comprehensive Drug Abuse Prevention and Control Act, 21 U.S.C. Section 801, Et. Seq (1970) (Controlled Substance Act), prohibits “manufacture, distribution, and ­dispensation” […]

Filed Under: Banking, Finance & Real Estate Tagged With: Bank Secrecy Act, Cannabis Banking, Comprehensive Drug Abuse Prevention and Control Act, Controlled Substances Act, Currency and Foreign Transactions Reporting Act, FINCEN

Banking & Finance

April 22, 2016 by Jerry King Leave a Comment

Cannabis banking | you want to open a checking account?

Filed Under: Banking, Finance & Real Estate, Cartoons, Op-Ed Tagged With: Cannabis Banking, Cannabis Checking Accounts

Banking Woes Easing For Some of Oregon’s Legal Marijuana Businesses

April 21, 2016 by AggregatedNews Leave a Comment

Oregon Marijuana Business Colorado Marijuana Industry Bank Minnesota Medical Patients Marijuana Banking Bill

SALEM, Ore. (AP) In a once-empty office in Oregon’s Department of Revenue headquarters, officials have created a mini-fortress. Recently hired workers sit behind bulletproof glass at a window inaccessible to the public. Police officers brought out of retirement roam the building with handguns on their hips. Security cameras monitor the hallways. The changes, paid for […]

Filed Under: Banking, Finance & Real Estate Tagged With: Cannabis Banking, Oregon

Why Marijuana Businesses Still Can’t Get Bank Accounts

March 22, 2016 by AggregatedNews Leave a Comment

Marijuana Banking rules medical pot businesses

DENVER — Tim Cullen’s marijuana business brought in millions of dollars last year, but he’s had a hard time finding a bank to take the money. He’s cycled through 14 checking accounts in six years. Recently, he said, a bank shut down all his personal accounts, including college savings for his 3-year-old daughter. Federal law […]

Filed Under: Banking, Finance & Real Estate Tagged With: Cannabis Banking, finance

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