Marijuana banking

6 banking issues to watch when Congress reconvenes


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.


Private credit bets big on cannabis companies as banks pass


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.


Why Senate Republicans are sitting out pot banking fight


The 2020 election is shaping up to be a key yardstick for legislation expanding cannabis firms’ financial services access.


A way to protect pot lenders: Spotting high energy users


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.


'Petulant children playing with matches': Comments of the week


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.


Pot banking hearing is on Crapo’s radar


The head of the Senate Banking Committee said the panel could examine an industry-supported cannabis banking bill "relatively soon."


Fintech MX gets $100 million in funding to expand operations


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.


House passes pot banking amendment to spending bill


The House passed a spending bill amendment aimed at providing further clarity to banks looking to provide services to cannabis businesses.


Truist's rough landing, BB&T-SunTrust opportunist, AML cheat sheet: Top stories of the week


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.


Legalizing pot may be only way to lift cloud over pot banking


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.