From SAFE to SAFER, New Banking Bill Stresses Safety September 21, 2023 Tom Hymes Banking, Finance & Real Estate, News & Insights 0 Comments 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… Read More→
Banking on Cannabis: An Insider’s Guide to Banking With Marijuana-Related Businesses December 10, 2018 Alan Hanson Banking, Finance & Real Estate 0 Comments By Alan Hanson There are many articles written about the issues surrounding banking Marijuana-Related Businesses (MRBs), but there are very few that discuss how banks can actually do this. And there are even fewer written by someone who has successfully helped… Read More→
Solving the Cannabis Banking Issue: De Novo Bank/Credit Union or Acquisition—What’s Possible? November 19, 2018 Sundie Seefried Banking, Finance & Real Estate 0 Comments I field a number of calls from people wanting to start or acquire a financial institution to solve the lack of access to banking for the cannabis industry. So, what is possible and what roadblocks might you expect to face?… Read More→
Cannabis Banking – REALITY CHECK October 24, 2018 Sundie Seefried Banking, Finance & Real Estate 0 Comments By Sundie Seefried Better Banked or Unbanked? So, true story here. Me and some of my staff attended a half day symposium on ‘the state of cannabis and banking’ in Colorado. The audience was composed of mostly bankers. This was… Read More→
Cannabis, Congress and Courage: Why Banks aren’t Banking Marijuana Businesses September 14, 2018 Jim Richards Banking, Finance & Real Estate 0 Comments By Jim Richards In January 2018, Attorney General Sessions “revoked Obama-era guidance that had effectuated a hands-off approach to state-legalized cannabis businesses.” This quote from an online National Law Journal article (see https://www.law.com/nationallawjournal/2018/09/11/feds-should-be-banging-the-drum-the-loudest-for-cannabis-industry-banking/?slreturn=20180812164053) and others like it, have been used… Read More→
Blowing Smoke: Marijuana Banking Scams May 21, 2018 Hilary Bricken Banking, Finance & Real Estate 0 Comments By Hilary Bricken What are the specific red flags to look for if you’re being pitched on a 'solution to the marijuana banking problem'? Of the many issues that prevent cannabis businesses from acting like regular businesses, their lack of… Read More→
Reading The Pot Leaves: What The Sessions Memo Means For Marijuana In The U.S. January 11, 2018 Hilary Bricken Policy & Legal 0 Comments This has spurred bipartisan support (and backlash) from Congress for federal legislation to let the states have full reign over marijuana. By HILARY BRICKEN Last week was an exciting and somewhat scary week for the marijuana industry. It started with… Read More→
Jeff Sessions Waives Sword of Damocles January 4, 2018 Steven Schain Policy & Legal 1 Comment By Steve Schain With Jeff Sessions threatening to singlehandedly crush $7.2 billion legalized marijuana industry spanning 30 states, generating millions in taxes and providing 10 of thousands of jobs, much confusion abounds. While unclear if merely a "knee jerk reaction"… Read More→
Marijuana Banking Takes Massive Leap Forward July 14, 2017 Steven Schain Compliance and Regulations, Policy & Legal 1 Comment Last month witnessed a marijuana banking explosion. Spanning 29 states and generating $7.2 billion in 2016, the United States' legalized marijuana industry's greatest obstacle—banking—was significantly reduced by the Department of the Treasury's (Treasury) Financial Crimes Enforcement Network's (FinCEN) June 6,… 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 legalized marijuana sales deposits. Instead, because the Comprehensive Drug Abuse Prevention and Control Act,… Read More→
The Fourth Corner Credit Union responds to the Federal Reserve Bank of Kansas City lawsuit February 1, 2016 Mark Goldfogel Banking, Finance & Real Estate 3 Comments By Mark Goldfogel With our appeal underway in the David vs.Goliath battle over cannabis banking, it’s time that The Fourth Corner Credit Union responds with our thoughts regarding Judge Jackson’s ruling in favor of the Federal Reserve Bank of Kansas… Read More→