Ohio Gov. Mike DeWine signed a bill Tuesday that will allow credit unions and other financial institutions to lawfully serve businesses that cultivate hemp and sell cannabidiol products containing the federal legal limit of no [...]
As the cannabis industry keeps growing, it’s on track to set a fresh record in its spending on lobbying Washington. After shelling out $2.7 million to influence lawmakers and regulators in 2018, the [...]
Maps Credit Union Chief Risk Officer Rachel Pross penned an op-ed for The Hill Wednesday on the challenges credit unions face around cannabis banking. Pross' op-ed closely followed her testimony on behalf of the CUNA/[...]
The Senate Banking Committee heard firsthand on Tuesday about the cannabis industry’s challenges in accessing the U.S. financial system—obstacles that have scared banks away from dealing with the industry and forced cannabis [...]
Rachel Pross, Chief Risk Officer at Maps Credit Union, Salem, Ore., will testify on CUNA’s behalf before the Senate Banking Committee Tuesday during a hearing titled “Challenges for Cannabis and Banking: Outside Perspectives.” CUNA [...]
With the number of states legalizing cannabis in some form continuing to grow, it’s understandable that Americans with differing views would want to debate whether it’s time to reform the nation’s marijuana [...]
A new version of NAFCU's marijuana banking issue brief is now available online, providing credit unions with comprehensive updates on federal legislative efforts and state-level marijuana laws. The brief provides information on the political and [...]
Employers operating in states that have legalized marijuana use may be having a tough time figuring out how to handle a worker who smoked pot the night before. The employee may or may not still [...]
NAFCU President and CEO Dan Berger and senior leaders of the association's award-winning advocacy team next week will give members an update on key credit union issues, including the current expected credit loss (CECL) standard, [...]
If you had any doubt that legal medical and recreational marijuana and related derivatives have become a very big business in the U.S., consider that a recent edition of Marijuana Business Magazine ran 154 [...]
The California Senate voted almost unanimously to pass a bill that would allow banks and credit unions to accept cash deposits from cannabis retailers. The 35-1 vote would allow banks to issue special checks to [...]
Congress, not federal regulators, must fix the marijuana banking conundrum, Treasury Secretary Steven Mnuchin told a House subcommittee last week. “I don’t believe that this is a failure of the regulators,” Mnuchin told the [...]
U.S. senators have introduced a revised version of the Secure and Fair Enforcement (SAFE) Banking Act in an effort to connect legal marijuana companies to banking services, and the bill has garnered new support. [...]
When Washington state legalized the use of marijuana in 2014, O Bee Credit Union in Tumwater, Wash., initially decided not to serve marijuana-related businesses. But when members started asking for cannabis banking services, O Bee [...]
CUNA wrote in support of House and Senate companion bills Thursday that would clarify the federal treatment of marijuana where it is legal and permit credit unions in those states to serve members’ related needs. [...]
