Marijuana banking

The FDIC was reluctant to sign off on the merger of Summit Bancshares and Faciam Holdings because the company planned to serve marijuana-related businesses.

After Senate Banking Committee Chairman Mike Crapo poured cold water on legislation enabling banks and credit unions to serve the marijuana industry, several key supporters of the effort are pushing back.

The Senate Banking Committee chairman said he opposed a House bill that would give financial institutions legal cover to serve cannabis businesses.

Banks will not have to file reports on customers just because they're in the hemp business; making it easier for people with no credit history to get loans.

The Financial Crimes Enforcement Network and other regulatory agencies confirmed that the recent legalization of the substance eases banks' anti-money-laundering requirements.

New data analytics could help provide more comfort to banks in doing business with the cannabis industry, despite restrictive federal laws.

Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing.

New data analytics could help provide more comfort to banks in doing business with the cannabis industry, despite restrictive federal laws.

The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns.

As Banking Committee Chairman Mike Crapo works on legislation enabling banks to serve cannabis businesses, one area of focus is combating risks tied to “legacy cash” that has accumulated in the marijuana industry.

A new law authorizes municipalities in the nation’s largest state to charter their own financial institutions to reinvest public funds into the community.

Officials said Thursday that they will not take regulatory action against state-chartered banks and credit unions solely for serving licensed cannabis businesses.

Democrats’ investigation of President Trump has darkened the horizon for legislative activity in Washington, but prospects for a pair of bipartisan measures backed by the industry are surprisingly bright.

The legislation included changes designed to attract more Republican support, which is key to the measure ultimately becoming law.

The industry is waiting to see if banks will get the same no-cost land leases on military bases that credit unions currently enjoy.

Building capital will help the mortgage agencies move toward the private sector; Virtual Wellness needs to assure banks it's safe to do business with them.

Protections for industrial hemp were added to a cannabis banking bill that is expected to get a full House vote next week.

The company will offer deposit-related services to firms with permits for hemp and CBD.

The Banking Committee chairman's comments have advanced legislative efforts, but questions remain about where he'll take the issue.

From marijuana to member business lending, a look at policymakers and others' perspectives on key issues affecting the industry.