The number of banks that are willing to work with marijuana businesses is steadily climbing, even after the Department of Justice revoked protections for state cannabis laws, new federal data shows. By the end of March, 411 banks and credit unions in the U.S. were “actively” operating accounts for marijuana businesses, according to a report […]
Financial Crimes Enforcement Network
Banking Help is Coming – But Stay Alert to Compliance Details
There’s little doubt that passage of the Secure And Fair Enforcement Banking (SAFE) Banking Act by Congress would be an enormous step forward for the cannabis industry. For those unfamiliar, the bill, introduced by Colorado Congressman Ed Perlmutter earlier this year, would prevent the federal government from penalizing banks that knowingly serve state-legal cannabis businesses. If passed, […]
Elizabeth Warren Working to Bring Marijuana Businesses and Banks Together
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 other businesses take for granted. U.S. Sen. Elizabeth Warren, a Massachusetts Democrat, is leading an effort to make sure vendors working with legal marijuana businesses, […]
