Marijuana industry

In a break with his own Justice Department, President Trump suggested Friday he would sign a bill co-authored by Sen. Elizabeth Warren to protect financial institutions that help legal marijuana businesses.

The bipartisan legislation would enable business in legal-marijuana states to access banking services, removing a key hurdle for a fast-growing industry.

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

One credit union analyst said CUs that choose to stay away from legal marijuana banking could be inhibiting their own potential for growth.

The timing is right for Congress to act sooner rather than later, defining what Is legal and establishing regulations, writes Cathy Beardsley, president and CEO of Segpay.

With the state only months away from allowing the sale of pot for recreational use, its top cannabis regulator is urging policymakers to consider creating a public bank to provide services to growers and dispensaries that might otherwise have nowhere else to bank.

Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.

Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

The Maryland credit union will offer business services to the medical cannabis industry.