News Topic: Marijuana banking

They all agree that legislation is needed, but the two approaches being offered are exposing tensions. ... Read full article

The time regulators take to decide on prospective deals has dropped sharply; a report says the cyberthieves were looking for info to help recruit spies. ... Read full article

Members of both parties want to make it easier for legal cannabis businesses to access financial services, but myriad obstacles stand in the way of that goal. ... Read full article

The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease bankers' fears about serving the cannabis industry. ... Read full article

The House Financial Services Committee will hold a hearing Feb. 26 on "holding credit bureaus accountable" — one of seven hearings scheduled by the panel for the month. ... Read full article

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved ... Read full article

Attorney General nominee William Barr said he disagrees with efforts by states to legalize marijuana but won't "go after" marijuana companies in states that have legalized it based on the Obama administration's policies. ... Read full article

From anti-money-laundering reform to pot banking, there are deals to be had on financial services legislation. The question is whether anyone wants to make them. ... Read full article

With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated. ... Read full article

A state-backed bank would not be financially feasible because capital requirements would be too high and it likely wouldn’t return profits to the state for at least 30 years, consultants concluded. ... Read full article

Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance. ... Read full article

Royal Bank of Canada's investment-banking division will advise on stock sales and arranging takeovers for companies in the marijuana industry, joining Bank of Montreal's BMO Capital Markets in serving an industry that didn't exist five years ... Read full article

Blockchain backers concede the hype is turning off bankers; Mulvaney's CFPB name change could cost industry millions of dollars; the one banking bill Congress might actually pass next term; and more from this week's most-read stories. ... Read full article

The financial industry is not expecting movement on a lot of legislation given a divided Congress, but one measure is beginning to attract widespread attention. ... Read full article

Efforts to create city- or state-owned banks in Los Angeles, Seattle and New Jersey have suffered setbacks of late, but public banking advocates are taking the long view. ... Read full article

A federal prohibition on marijuana has locked U.S. banks out of an industry surging toward $75 billion in sales. Who's catching that money? A small number of local credit unions, and the women who run their operations. ... Read full article

What the Democrats' House takeover means for banks; Synchrony has a lot to lose in fight with Walmart; should industry fear Waters-led banking panel?; and more from this week's most-read stories. ... Read full article

During his time as U.S. attorney general, Jeff Sessions was an outspoken opponent of the legalization of cannabis sales. Now that Sessions has resigned, legal marijuana is poised to become a growth industry. ... Read full article