Marijuana banking

4 takeaways from Biden’s embrace of progressive banking policies

07/09/20

The Democrats’ presumptive presidential nominee called for a public credit reporting agency and for the Postal Service to offer financial services, among other proposals issued through a unity task force with Bernie Sanders. But analysts suggest the recommendations are more about electoral politics than pushing for real reforms.

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6 key Senate races for bankers to watch

05/29/20

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

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Pot banking rules grow hazier during pandemic

05/27/20

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

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Should banks fear a blue wave in November?

05/21/20

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

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Pot banking measure revived in Dems' coronavirus relief package

05/12/20

The proposal would give a safe harbor to financial institutions that work with cannabis companies in states where the substance is legal. But the bill, which would direct $3 trillion in aid to struggling households, businesses and local governments, faces long odds in the Republican-controlled Senate.

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Virus focus further dashes banks’ hopes of pot banking, AML reform

03/16/20

Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.

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Industry to Crapo: Detach pot banking from public health debate

01/26/20

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.

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The 2020 legislative docket: AML reform, GSEs, Dems v. regulators

01/01/20

The window to change beneficial-ownership rules or pass other measures will be narrow, but some legislative efforts from 2019 will carry over and House Democrats will resume inquiries of certain industry CEOs and Trump-appointed regulators.

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Crapo's buzzkill, CFPB fair lending, Waters targets Wells: Top stories of the week

12/20/19

Sen. Mike Crapo delivers a crushing blow to pot banking efforts; the CFPB draws notice for its lack of fair lending enforcement; Rep. Maxine Waters says she will call on Wells Fargo board to testify next year; and more from this week's most-read stories.

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California merger terminated over delayed regulatory approval

12/19/19

The FDIC was reluctant to sign off on the merger of Summit Bancshares and Faciam Holdings because the company planned to serve marijuana-related businesses.

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