News Topic: Marijuana banking

In a break with his own Justice Department, President Trump suggested Friday he would sign a bill co-authored by Sen. Elizabeth Warren to protect financial institutions that help legal marijuana businesses. ... Read full article

The bipartisan legislation would enable business in legal-marijuana states to access banking services, removing a key hurdle for a fast-growing industry. ... Read full article

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry. ... Read full article

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next. ... Read full article

Rob Paterson didn't seem to fit the script of a go-to banker for the pot industry — he barely drank and hadn't smoked a joint since his university days. But three years since taking on his first marijuana customer, that's just what the CEO ... Read full article

A BankThink argues that Treasury's GSE cash infusions are just the return of stolen money; MUFG wants its Union Bank to be one of the nation's 10 largest; fintech promises a 30-minute mortgage; and more. ... Read full article

Only North Dakota has its own state-owned bank, but policymakers in other states say more public banks are necessary to fully meet society's needs. Among those who proponents say would benefit the most: small-business owners and legal marijuana ... Read full article

Attorney General Jeff Sessions made headlines in January when he tightened federal marijuana enforcement. But the good news for financial institutions looking to service the pot industry is that the rest of the government has responded with a shrug. ... Read full article

As financial institutions find themselves at the center of political fights on topics like energy financing, marijuana and guns, they should avoid caving in to activist demands. ... Read full article

As financial services companies cool on gun sales, alternative currencies may step in to pick up the slack. ... Read full article

Readers weigh in on the idea of using banks to effectively ban assault rifles, slam a pot-banking proposal, opine on social media strategies and more. ... Read full article

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 ... Read full article

The effort would help the state support its burgeoning cannabis industry without interference from federal financial regulators. ... Read full article

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. ... Read full article

Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash. ... Read full article

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. ... Read full article

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. ... Read full article

The Maryland credit union will offer business services to the medical cannabis industry. ... Read full article