Marijuana industry

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

A recent agreement with the California Cannabis Industry Association will make it easier for legal cannabis businesses across the state to join the $92 million-asset credit union.

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

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

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

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.

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.

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.

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.

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

As credit union leaders converge on Washington, here's a look at some of the biggest legislative and regulatory issues facing the industry – and what it might take to move the needle.

The NCUA said credit unions can now serve hemp businesses but uncertainty remains around important issues like due diligence.

Citing insurance concerns, Anchorage-based Credit Union 1 shut down its marijuana-banking pilot program after less than one year. The move reflects lingering hesitation around banking the industry.

The $35 million-asset credit union was one of just five entities bidding to serve the Mountain State’s medical cannabis program.