Marijuana banking

From data privacy to robocalling, industry leaders chime in on the biggest regulatory and congressional issues at stake for the remainder of the year.

It's a multibillion-dollar industry in a state of payments-regulation limbo and as a result, the U.S. cannabis business has mainly operated on a cash basis.

As Democrats keep the heat on the German bank over allegations that it suppressed reporting tied to Trump businesses, the Treasury secretary said he will direct the Financial Crimes Enforcement Network to look into the matter.

The legislation faces a tougher path in the Senate where GOP leaders are reluctant to ease restrictions on what is still a banned narcotic.

Ask 453 bankers their forecasts on loan demand and the economy, or their feelings about the BB&T-SunTrust merger, pot banking as well as other hot issues, and a clear picture emerges. Promontory Interfinancial Network recently did just that, and here our five takeaways from the results.

Eileen Murray has talked about leaving Bridgewater; A deal with Roger Ng could lead to charges against Goldman and its employees.

Two attorneys told a credit union audience the growing wave of marijuana legalization could have just as big an impact on financial institutions that don't serve the cannabis industry as those that do.

In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive.

The attorney general told lawmakers that exempting states that have legalized marijuana from the federal ban is better than the current system where state and federal laws are in conflict.

The attorney general told lawmakers that exempting states that have legalized marijuana from the federal ban is better than the current system where state and federal laws are in conflict.

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.

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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.