WASHINGTON, Jan. 23, 2018 /Weed Wire/ – Rep. Tulsi Gabbard (HI-02) and a bipartisan coalition of lawmakers urged the U.S. Treasury to uphold federal guidance for marijuana-related businesses.
Tag Archives: FinCEN
WASHINGTON, Jan. 18, 2018 /Weed Wire/ – A bipartisan group of Senators, led by Sen. Jeff Merkley (D-OR) and Sen. Lisa Murkowski (R-AK), today urged the Financial Crimes Enforcement Network (FinCEN) to keep in place guidance that has enabled some financial institutions to provide banking services for legitimate cannabis businesses in states that have legalized medical or recreational cannabis.
WASHINGTON, Jan. 17, 2018 /Weed Wire/ – Following the January 4 announcement by the U.S. Department of Justice to withdraw the Cole guidance, today Representatives Denny Heck (WA-10) and Ed Perlmutter (CO-07) sent a letter to U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) requesting they preserve the 2014 guidance for marijuana-related businesses to operate under the Bank Secrecy Act.
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.
When the U.S. Justice Department said last week it was reversing policy on the $7 billion marijuana business, it failed to first notify federal officials who advise banks in states where the drug is legal, sources in Congress said.
DALLAS, Nov. 14, 2017 /Weed Wire/ — Bayport International Holdings Inc. (OTC PINK: BAYP) has finalized a strategic partnership with GreenLink Financial LLC, a specialty financial services provider for highly-regulated banking challenged businesses.
With recreational marijuana now legal in Nevada, home of America’s gambling capital, the casino lobby wants federal marijuana banking guidance on how to deal with money connected to state-legal marijuana markets.
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.
WASHINGTON, May 17, 2017 /Weed Wire/ — U.S. Senator Catherine Cortez Masto (D-Nev.) joined Senators Jeff Merkley (D-Ore.), Cory Gardner (R-Colo.), Ron Wyden (D-Ore.), Rand Paul (R-Ky.), Michael Bennet (D-Colo.), Patty Murray (D-Wash.), Elizabeth Warren (D-Mass.), and Brian Schatz (D-Hawaii) to introduce legislation to ensure that legal cannabis businesses can access banking services.
WASHINGTON, May 17, 2017 /Weed Wire/ — Senator Elizabeth Warren (D-Mass.) today joined a bipartisan group of senators led by Senator Jeff Merkley (D-Ore.) and including Senator Cory Gardner (R-Colo.), Senator Ron Wyden (D-Ore.), Senator Rand Paul (R-Ky.), Senator Michael Bennet (D-Colo.), Senator Patty Murray (D-Wash.), Senator Catherine Cortez Masto (D-Nev.) and Senator Brian Schatz (D-Hawaii) to introduce legislation to ensure that legal cannabis businesses can access banking services.
WASHINGTON, May 17, 2017 /Weed Wire/ — Today, Oregon’s Senator Jeff Merkley led a bipartisan group of Senators – including Senator Cory Gardner (R-CO), Senator Ron Wyden (D-OR), Senator Rand Paul (R-KY), Senator Michael Bennet (D-CO), Senator Patty Murray (D-WA), Senator Elizabeth Warren (D-MA), Senator Catherine Cortez Masto (D-NV) and Senator Brian Schatz (D-HI) – to introduce legislation to ensure that legal cannabis businesses can access banking services.
WASHINGTON, May 17, 2017 /Weed Wire/ — Today, Senator Patty Murray (D-WA) joined a bipartisan group of senators to introduce legislation to ensure that legal cannabis businesses can access banking services.
On March 27, 2017, California’s Cannabis Banking Working Group held a meeting at Oakland City Hall in Oakland, Calif., to address possible solutions to resolve the state-federal banking issue for California’s legal marijuana businesses. California State Treasurer John Chiang announced the Cannabis Banking Working Group back on Dec. 2, 2016, and today’s event marked the…
In the wake of a string of marijuana victories at the ballot box, U.S. Sen. Elizabeth Warren, D-Massachusetts, is leading the charge to ensure banking access for the legal marijuana industry.
WASHINGTON, Dec. 14, 2016 /Weed Wire/ — Today, a bipartisan group of Senators led by Oregon’s Senator Jeff Merkley pressed a key federal regulator to take further action to ensure that vendors working with legal marijuana businesses in states that have legalized recreational or medicinal marijuana do not have their banking services taken away.
To help you get started, this guide will provide the basics on how to open a bank account for your cannabis business.
On March 15, 2016, an official from the Office of the Comptroller of the Currency indicated at the ABA Government Relations Summit that federal banking agencies are in discussions with FinCEN regarding banking for marijuana-related businesses.
On Dec. 28, 2015, the United States District Court for the District of Colorado heard oral arguments in Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City.
While marijuana and its related products have been for sale in Washington state for over a year now, the financial aspect of the business is still a bit on the hazy side.
The marijuana banking bill introduced on July 9, 2015, in the Senate and passed out of the Senate Appropriations Committee on July 23, is way overdue.
Electrum Partners’ Leslie Bocskor along with his partner Gordon Katz have filed paperwork with the SEC to launch a cannabis-related hedge fund. Placement agents are aiming to raise $25 million.
Fourth Corner has not opened, and it is not clear when it will. The problem is with the Federal Reserve master account.
C4EverSystems has developed a kiosk that resembles an ATM that will handle orders and payments for dispensaries. What’s more, Mark Goldfogel, CEO of the C4EverSystems, has solved the issue preventing banks from accepting money from marijuana-related businesses.