Marijuana banking

Payments firms see green as more states legalize pot

11/04/20

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.

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One fix to the deluge of suspicious activity reports

09/24/20

Financial institutions and authorities could better track money launderers if legalized-marijuana-related businesses were not included in SARs.

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Trump vs. Biden: What’s at stake for banks

09/17/20

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

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Election 2020: What GOP holding Senate would mean for financial services

09/14/20

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

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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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