United States Attorney General Jeff Sessions may have reversed federal marijuana enforcement policy, but that isn’t stopping the Golden State from studying how to move forward with creating a public cannabis bank to serve the state’s legal cannabis industry.
Tag Archives: Bank
This Is Why Arkansas Medical Marijuana Banking Will Become a Reality
The Natural State is still reviewing the hundreds of medical marijuana business applications it received back in September 2017 and even though waiting is the hardest part, those that receive licenses can look to forward to the reality of Arkansas medical marijuana banking.
Treasurer Chiang Releases Recommendations to Address Lack of Banking for Cannabis Industry
SACRAMENTO, Calif., Nov. 7, 2017 /Weed Wire/ – State Treasurer John Chiang today released a report outlining steps California can take to address the lack of banking services that force much of the cannabis industry to operate in cash.
Lawmaker Calls Arkansas Medical Marijuana Business “Wild, Wild West”
Future medical marijuana growers and sellers in the Natural State can’t take their money to the bank, for now, that is. After doing his homework, the state lawmaker who crafted the new cannabis laws has learned more money, more problems when it comes to doing business without banking assistance.
Could a Public Bank Resolve Cannabis Industry’s Financial Services Conundrum?
LOS ANGELES, Aug. 7, 2017 /Weed Wire/ — A highly anticipated meeting of California’s 17-member Cannabis Banking Working Group has been set for August 10 in Los Angeles on the controversial subject of public banking.
This Recent Bank Development Could Signal Danger for Marijuana Stocks
One decision by a major bank could mean trouble in the not-too-distant future for marijuana stocks.
Two of Canada’s Big Banks Back Away From Marijuana Industry
TORONTO — Scotiabank and the Royal Bank of Canada say they aren’t providing accounts to companies associated with the marijuana industry, leaving some business owners scrambling to find alternate arrangements.
Exclusive: GW Pharmaceuticals Hires Investment Bank Following Approaches - Sources
GW Pharmaceuticals Plc (Nasdaq:GWPH), a developer of marijuana-based epilepsy treatments, is working with an investment bank after other drugmakers approached it to express interest in an acquisition, people familiar with the matter said.
Cannabis Company Confounded by ‘The Crowd’
Crowdfunding seemed like the perfect solution for cannabis entrepreneur Ralf-Rainer von Albedyhll, CEO of NextRX Inc., based in Las Vegas, Nevada. He had tried the more traditional funding avenues with little success.
Expert Panel to Explore the New Frontier of Banking in the Cannabis Industry
On March 5, 2016, panelists at the California Cannabis Business Expo will be leading a discussion on “The New Frontier of Banking in the Cannabis Industry.”
Viridian Capital Advisors Featured in MSN Money Article
NEW YORK, Aug. 19, 2015 /Weed Wire/ — Viridian Capital Advisors was recently featured in MSN Money, discussing the ever-changing financial landscape in the cannabis industry and the continued need for professionalism, banking, and compliance for companies in this budding sector.
California Considers State-Run Bank
In November 2016, Californians could vote to become the fifth state to legalize the cultivation and sale of recreational marijuana. In anticipation, the state Board of Equalization, which handles taxation and revenue, has proposed a state-run bank.
Medical Marijuana Operations Find It Tough to Set Up Accounts
When medical marijuana becomes available in Minnesota on July 1, two state-approved companies will begin selling cannabis in pill and oil form to patients who suffer from cancer, HIV, AIDS, ALS and other conditions.
Las Vegas Bank Backs Off Medical Marijuana Accounts
A Las Vegas bank that had planned to offer accounts to medical marijuana businesses has backed off, citing the astronomical cost of complying with federal regulations.
MBank Pulls Out of Colorado a Week After Taking on Cannabis Accounts
The Oregon community bank that a week ago openly welcomed Colorado marijuana industry customers has changed its mind, publicly saying it doesn’t have the infrastructure to handle the overwhelming response for service.
U.S. equities opened strong again and traded softer on waning volume, a similar pattern for the third consecutive day. International markets have been a bit stronger recently which has contributed to the early strength in U.S. stocks.
Apeks finally lands loan for expansion after 10 banks scared off by marijuana ties
Apeks LLC is starting construction on a sorely needed new factory about four months later than it planned.
20 Life Lessons I Learned Chasing Money and Drugs in the Banking and Cannabis Industries
Growing up, I was always fascinated by music; hip-hop has a special place in my heart. Listening to an artist like Lil Wayne express his thoughts about drugs and money helped inspire me to dedicate my childhood to the pursuit of money … .
Credit for Colorado Cannabis
Colorado proposed credit unions could act as banks for marijuana investors. Breaking news: Colorado lawmakers approved. Gov. John Hickenlooper ready to sign.
Colorado Senate OKs co-op banking option for marijuana sellers
Issues surrounding banking has been a known hurdle for marijuana business owners in Colorado. However, things are looking up for these cannabis retailers who may now have a cooperative banking option.