Marijuana banking

The House Financial Services Committee recently approved protections for banks financing cannabis companies in states where it’s legal. This is a good first step, but improvements are needed.

The congressional hearing will be ripe with opportunities for lawmakers to raise flags on issues of diversity, deregulation and social policy.

CEOs at Bank of Montreal and TD Bank Group say they are unlikely to touch the American cannabis industry until the laws change.

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 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.

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.

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.

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

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

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.

New legislation in the Mountain State could clear the way for credit unions to accept funds legal pot shops' license fees.

The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize a financial institution accepting insured deposits from a legal marijuana business.

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.

After six years, a bill from Rep. Ed Perlmutter to allow banks and credit unions to serve legal marijuana businesses is finally getting some traction.

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.

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.

Legalized marijuana is a multibillion-dollar industry, and it desperately needs banking services. Will Congress come to the rescue?

Katrina Skinner is set to take the helm permanently at Safe Harbor Services, a credit union service organization for financial institutions serving the legal marijuana industry.

They all agree that legislation is needed, but the two approaches being offered are exposing tensions.

The time regulators take to decide on prospective deals has dropped sharply; a report says the cyberthieves were looking for info to help recruit spies.