-
Nonbank lenders Monroe Capital and MGG Investment Group have made a combined $115 million of loans to firms that make cannabidoil and supply products to the cannabis and hemp industries.
August 26 -
Despite the Senate Banking Committee’s willingness to discuss the issue, Republican support for legislation is still in question.
July 23 -
Rachel Pross, chief risk officer at Maps Credit Union, told the Senate Banking Committee the inability for more banks and CUs to safely serve the legal pot industry is having an effect on ancillary businesses.
July 23 -
Lawmakers will hear from a credit union executive on cannabis banking while also considering issues such as the use of alternative data in underwriting.
July 22 -
Only one CU in West Virginia wants to enter the pot banking space, but they're going against the grain not just of the state's credit union league but an industry where fewer than 1% of institutions are serving that market.
July 3 -
The House passed a spending bill amendment aimed at providing further clarity to banks looking to provide services to cannabis businesses.
June 20 -
Credit union executives discussed serving the legal marijuana and hemp businesses during NAFCU's annual conference in New Orleans, including vastly different motivations for serving the industry.
June 20 -
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.
May 31 -
The legislation faces a tougher path in the Senate where GOP leaders are reluctant to ease restrictions on what is still a banned narcotic.
May 21 -
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.
May 3