The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns. ... Read full article
As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry. ... Read full article
Officials said Thursday that they will not take regulatory action against state-chartered banks and credit unions solely for serving licensed cannabis businesses. ... Read full article
Democrats’ investigation of President Trump has darkened the horizon for legislative activity in Washington, but prospects for a pair of bipartisan measures backed by the industry are surprisingly bright. ... Read full article
A new law authorizes municipalities in the nation’s largest state to charter their own financial institutions to reinvest public funds into the community. ... Read full article
The legislation included changes designed to attract more Republican support, which is key to the measure ultimately becoming law. ... Read full article
Building capital will help the mortgage agencies move toward the private sector; Virtual Wellness needs to assure banks it's safe to do business with them. ... Read full article
Protections for industrial hemp were added to a cannabis banking bill that is expected to get a full House vote next week. ... Read full article
The company will offer deposit-related services to firms with permits for hemp and CBD. ... Read full article
The Banking Committee chairman's comments have advanced legislative efforts, but questions remain about where he'll take the issue. ... Read full article
When lawmakers return from their August recess, there are a host of unresolved financial policy issues — from marijuana banking to anti-money-laundering rule — to greet them. ... 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
The 2020 election is shaping up to be a key yardstick for legislation expanding cannabis firms’ financial services access. ... 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 head of the Senate Banking Committee said the panel could examine an industry-supported cannabis banking bill "relatively soon." ... Read full article
The fast-growing fintech, which says its mission is helping banks be better consumer advocates, will use its cash infusion for hiring, software development and new partnerships. ... 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
Hard sell ahead for BB&T-SunTrust as ‘Truist’ lands with a thud; Citizens looks to poach BB&T-SunTrust talent; what the Senate AML bill means for banks; and more from this week’s most-read stories. ... Read full article
Recent legislation zeroes in on letting financial institutions serve cannabis businesses in states where the substance is legal, but banks may stay on the sidelines if the federal ban on pot remains in place. ... Read full article
