Marijuana banking

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.



First penalty for pot banking violations lands on credit union


Seven years after regulators issued guidance to financial institutions, a small Michigan credit union was ordered to stop opening new accounts for marijuana businesses.



In pot banking, bigger isn't always better


With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws. That’s the theory Colorado Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union.


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.


‘COVID, COVID, COVID’: Pandemic set to dominate ’21 banking agenda on Hill


The Georgia runoffs and resulting balance of power in Congress will help determine which bills on bankers’ wish list gain traction. But regardless, existing coronavirus relief such as the Paycheck Protection Program and a push for more economic aid will remain top of mind for lawmakers and the industry.


Pot banking could get new life on Toomey-led Senate panel


Sen. Pat Toomey, R-Pa., who would likely chair the Banking Committee if the GOP retains control of the chamber, signaled support for helping banks serve marijuana businesses. But he is skeptical of an anti-money-laundering bill backed by the industry and extensions of the Fed's pandemic programs.


Partisan gridlock appears intact. Why that's good for banks.


A final Senate breakdown still depends on the outcome in a few key races, but with Republicans closer to keeping power, Democrats' proposals to cap interest rates, create a postal banking system and establish a public credit reporting agency are likely dead on arrival.


Cannabis and gambling: State ballot measures that matter to banks


Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.