Marijuana banking

Despite bipartisan support, the latest congressional effort to enable the legal marijuana industry's access to the banking system still faces plenty of roadblocks.

In a break with his own Justice Department, President Trump suggested Friday he would sign a bill co-authored by Sen. Elizabeth Warren to protect financial institutions that help legal marijuana businesses.

The bipartisan legislation would enable business in legal-marijuana states to access banking services, removing a key hurdle for a fast-growing industry.

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

One credit union analyst said CUs that choose to stay away from legal marijuana banking could be inhibiting their own potential for growth.

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next.

Even though legalized cannabis and cryptocurrency payments are still vexing markets by themselves, WebJoint and Alt Thirty Six are quickly looking to take their combined dispensary play to other businesses.

U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next.

As the cannabis industry has inched toward legitimacy, it hasn't abandoned its roots. And that includes the infamous pot smokers' "holiday," April 20.

Despite a shaky start to 2018, several experts in marijuana banking insist that there are opportunities available for credit unions that want to get involved in a potentially lucrative market.