Bipartisan group reintroduces landmark pot banking bill


The legislation easily passed the House in 2019 but was never considered in the Senate. Observers see a more promising path forward this time.



Democrats’ sweep helps pot banking’s cause, but battle is far from over


The odds are better now that Congress will pass a bill to help financial institutions serve cannabis businesses, but the question of the legislative path forward has grown murkier.


Tax hikes, tough regulators: What Democratic sweep may hold for banks


Now that Democrats have won control of the Senate following the Georgia runoffs, experts say tax increases, progressive regulators and stricter congressional oversight await. Still, there could be some positives for banks, too.


The Senate may not flip but Banking Committee is poised for shake-up


If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.


Payments firms see green as more states legalize pot


One area of certainty in the 2020 election is the momentum for legalizing cannabis, as a string of ballot box victories makes it harder for banks to avoid working with dispensaries and other legal marijuana businesses.


Waters rejects GOP request to cancel hearing on pandemic relief bill


The House Financial Services Committee chair vowed to stay focused on the HEROES Act after the panel's top Republican said lawmakers should instead debate bills with bipartisan support.


House lawmakers give update on CECL, pot banking


At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.


Community banks need reg relief that is more than skin deep


Congress should further expand a tiered regulatory system to help community banks better serve local neighborhoods.