With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else to bank.
Bank of Montreal is open to more deals with cannabis companies, as long as those firms can get past "traps" in the lender's due diligence process, Chief Executive Officer Darryl White said.
Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.
Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.
Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.
Sundie Seefried is high on pot banking. Hollywood is not so sweet on the former SBA head's bid for Weinstein Co. Another woman takes on Mick Mulvaney in court. And what's shushing women on Wall Street with stories to tell? Arbitration, for one thing.
