Marijuana banking

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

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

Legislation favorable to the industry would be unlikely to pass in a divided Congress, but the biggest benefit for banks and credit unions of Republicans' retaining control of the chamber would be defending against the disruption of a Democratic blue wave.

The Democrats’ presumptive presidential nominee called for a public credit reporting agency and for the Postal Service to offer financial services, among other proposals issued through a unity task force with Bernie Sanders. But analysts suggest the recommendations are more about electoral politics than pushing for real reforms.

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

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

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

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

The proposal would give a safe harbor to financial institutions that work with cannabis companies in states where the substance is legal. But the bill, which would direct $3 trillion in aid to struggling households, businesses and local governments, faces long odds in the Republican-controlled Senate.

The NACUSO annual gathering and a new event focused on cannabis banking for the industry have both been shuttered.

Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.

A look back at CU Journal's latest special report on the challenges the industry could face in the year ahead.

Lawmakers are close to solving one of the financial services industry's biggest headaches. It's in the public's interest for them to do so.

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

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.

President Trump's impeachment trial could get underway in the Senate this week, making it even harder for the movement's legislative priorities to gain traction.

From the presidential election to Supreme Court cases, growth strategies and more, these are the issues that could define the next 12 months.

The SAFE Banking Act is on hold after Sen. Mike Crapo announced his opposition to it. One observer suggested that could have a "chilling effect" on CUs looking to enter the pot banking space.

The window to change beneficial-ownership rules or pass other measures will be narrow, but some legislative efforts from 2019 will carry over and House Democrats will resume inquiries of certain industry CEOs and Trump-appointed regulators.

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 stories.