News Topic: Cannabis

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

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. ... Read full article

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. ... Read full article

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 ... Read full article

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. ... Read full article

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. ... Read full article

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 ... Read full article

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

The pot banking bill is a long shot after recent criticism by the Senate Banking chairman, but bankers are trying a new argument in a last-ditch effort to sway lawmakers. ... Read full article

Readers sound off on climate change, the Federal Reserve's incoming real-time payments system, praise efforts for gender pay equity and more. ... Read full article

Nonbank lenders Monroe Capital and MGG Investment Group have made a combined $115 million of loans to firms that make cannabidoil and supply products to the cannabis and hemp industries. ... Read full article

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more. ... Read full article

A fintech called NCS Analytics wants to analyze power-use data at cannabis businesses for banks that finance them. It says the information can help expose illegitimate activity. ... Read full article

Readers react to House lawmakers attempting to overhaul the credit bureaus, express sarcasm to the Senate Banking Committee eyeing cannabis banking, criticize Sen. Elizabeth Warren's plans to overhaul Wall Street and more. ... Read full article

The House passed a spending bill amendment aimed at providing further clarity to banks looking to provide services to cannabis businesses. ... Read full article