News Topic: Marijuana industry

Financial institutions and authorities could better track money launderers if legalized-marijuana-related businesses were not included in SARs. ... Read full article

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential. ... Read full article

The pot banking bill is a long shot after recent criticism by the Senate Banking chairman, but bankers are trying a new argument in a last-ditch effort to sway lawmakers. ... Read full article

Sen. Mike Crapo delivers a crushing blow to pot banking efforts; the CFPB draws notice for its lack of fair lending enforcement; Rep. Maxine Waters says she will call on Wells Fargo board to testify next year; and more from this week's most-read ... Read full article

After Senate Banking Committee Chairman Mike Crapo poured cold water on legislation enabling banks and credit unions to serve the marijuana industry, several key supporters of the effort are pushing back. ... Read full article

The Senate Banking Committee chairman said he opposed a House bill that would give financial institutions legal cover to serve cannabis businesses. ... 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 Banking Committee chairman's comments have advanced legislative efforts, but questions remain about where he'll take the issue. ... 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

Despite the Senate Banking Committee’s willingness to discuss the issue, Republican support for legislation is still in question. ... 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

The legislation faces a tougher path in the Senate where GOP leaders are reluctant to ease restrictions on what is still a banned narcotic. ... Read full article

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

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

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. ... Read full article

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. ... Read full article

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. ... Read full article