Marijuana banking

Bankers back bill to let states determine marijuana rules


A broad bill that amends the Controlled Substances Act to formally recognize state laws legalizing marijuana has the support of the financial services industry.


A path forward for public banks?


A bill recently introduced in the California state assembly would create a framework for local governments to set up their own taxpayer-owned banks. It’s more specific than other public-bank proposals, which raised more questions than they answered, but still faces long odds.


Analytics project shows promise for resolving pot-banking issues


NCS Analytics is building portals for Michigan and California that are designed to encourage financial institutions to become more comfortable in banking marijuana-related businesses by making it easier for them to sort out good and bad actors.


USB's mobile app, BofA and Wells cool on blockchain, GSEs too big: Top stories of the week


Under the hood of U.S. Bank's new mobile app; BofA, Wells Fargo sour on blockchain; are Fannie and Freddie too big?; and more from this week's most-read stories.


House banking panel advances pot banking bill


Nearly a dozen Republicans joined all of the committee's Democrats in supporting the legislation, which would enable banks to serve legal marijuana businesses.


Pot banking support grows; Equifax, Fair Isaac partner to sell data to banks


Mainstream firms are joining the push to let cannabis firms use banks; the companies say they can help banks make lending decisions quicker.


House likely to pass pot banking bill, but is that as far as it goes?


Banks and credit unions may be moving one step closer to federal legislation freeing them to serve legal pot businesses, but the path to enactment is still fraught with huge challenges.


Waters schedules committee votes on cannabis banking, CFPB bills


The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize banks that accept FDIC-insured deposits from a legal marijuana business.


'Nice try JPM, but no cigar': Comments of the week


Readers weigh legislative proposals on pot banking, consider JPMorgan's new digital coin, debate the Federal Deposit Insurance Corp.'s brokered deposit rules and more.


Momentum builds for Perlmutter's pot banking bill


After six years, Rep. Ed Perlmutter tells American Banker he is finally seeing some traction on his legislation to allow banks to serve legal marijuana businesses.