Pot Banking

Banks happy to let cardholders buy weed online, lawyers say

03/23/21

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online.

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Bipartisan group reintroduces landmark pot banking bill

03/18/21

The legislation easily passed the House in 2019 but was never considered in the Senate. Observers see a more promising path forward this time.

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First penalty for pot banking violations lands on credit union

03/16/21

Seven years after regulators issued guidance to financial institutions, a small Michigan credit union was ordered to stop opening new accounts for marijuana businesses.

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Partner Colorado CEO stepping aside to focus full-time on pot banking

02/16/21

Sundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space.

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North Bay's pot banking business gets a boost from new partnership

01/22/21

A recent agreement with the California Cannabis Industry Association will make it easier for legal cannabis businesses across the state to join the $92 million-asset credit union.

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