Tag Archives: Financial Institutions

Bennet, Gardner Fight to Maintain Banking Services for Marijuana Businesses and Consumers

WASHINGTON, Jan. 11, 2018 /Weed Wire/ — Colorado U.S. Senators Michael Bennet (D) and Cory Gardner (R) today sent a letter to the Financial Crimes Enforcement Network (“FinCEN”), urging it to retain its February 14, 2014 guidance for financial institutions that serve marijuana businesses.

This Is What One Massachusetts Bank Thinks of Marijuana Money

This Is What One Massachusetts Bank Thinks of Marijuana Money

On Aug. 6, 2017, the National Conference of State Legislatures carved out 90 minutes during its summit in Boston for a panel on financial services for legal marijuana businesses, addressing efforts to move marijuana money from a cash-only model to a mainstream banking model.

US Senators Urge Jeff Sessions to Reassure Industrial Hemp Industry

US Senators Pen Open Letter to Urge Jeff Sessions to Reassure Industrial Hemp Industry

With members of the industrial hemp industry facing unnecessary banking hurdles, several United States Senators have joined forces to urge the Department of Justice not to use funds to punish banks that do business with them.

Increasing Number of Financial Institutions Banking Marijuana Money

Increasing Number of Financial Institutions Banking Marijuana Money

It seems the advent of the Trump Administration has yet to dissuade banks from serving state-legal marijuana businesses. According to a marijuana banking update issued by the Financial Crimes Enforcement Network, a growing number of financial institutions are banking marijuana money in the United States.

Illinois State Treasurer Urges Trump to Issue Guidance on Marijuana Banking

Illinois Urges Trump to Issue Guidance on Marijuana Banking

In response to President Donald Trump’s nomination of Jeff Sessions for Attorney General, Illinois State Treasurer Michael Frerichs announced on Jan. 24, 2017, that he sent a letter to Trump urging him to issue clear guidance to banks on working with the legal marijuana industry.

Washington State Liquor and Cannabis Board

Preparations in Place for July 1 Alignment of Medical and Recreational Marijuana Systems

OLYMPIA, Wash., June 15, 2016, /Weed Wire/ — Preparations made by state agencies, local government, law enforcement and prosecutors will help further a smooth merger of the unregulated medical marijuana market with the tightly regulated recreational system on July 1, 2016.

Dispensary open. Sonya Yruel/Drug Policy Alliance.

House of Representatives Votes to Open Banking for Cannabis Businesses

WASHINGTON, DC – The House of Representatives cast two votes today in support of opening up banking services to state-legal marijuana businesses. By a vote of 231-192, the House passed an amendment to the Financial Services appropriations bill, forbidding the use of federal funds to penalize financial institutions that serve marijuana businesses operating legally under state law.


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