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Victor Ngo, 33, has pleaded guilty to making a false statement to JPMorgan Chase when he said his medical marijuana dispensary was a wellness and fitness company.
August 19 -
Congress had been close to passing legislation to help banks serve cannabis firms. Now Democratic leaders have all but abandoned the effort, prioritizing a riskier proposal to decriminalize the drug.
July 16 -
Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.
June 30 -
Michael Moeser, senior analyst at PaymentsSource, talks to Dustin Eide, CEO of CanPay, about payments innovation in the legalized cannabis industry.
May 18 -
The 2020 elections buoyed hopes that Congress would finally make it easier for financial institutions to serve cannabis businesses. But Democrats’ push to decriminalize marijuana — a nonstarter for most Republicans — threatens the more targeted effort.
April 22 -
The SAFE Banking Act would prohibit federal banking regulators from penalizing banks and other depository institutions for providing banking services to cannabis businesses. It passed Monday night on a 321-101 bipartisan vote.
April 19 -
The legislation easily passed the House in 2019 but was never considered in the Senate. Observers see a more promising path forward this time.
March 18 -
Seven years after regulators issued guidance to financial institutions, a small Michigan credit union was ordered to stop opening new accounts for marijuana businesses.
March 16 -
With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws. That’s the theory Chicago Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union.
March 10 -
With national banks awaiting federal decisions on marijuana banking policy, smaller institutions can capitalize on local laws. That’s the theory Chicago Ventures is putting to the test with a $5 million investment in AeroPay, which banks with Partner Colorado Credit Union.
March 10