The two national trade groups are taking slightly different directions on marijuana banking legislation, as CUNA and the American Bankers Association jointly endorsed House legislation and NAFCU said the issue is important, but there are [...]
Despite a Republican request to delay consideration of the bill, the House Financial Services Committee is still scheduled to mark up legislation Tuesday to ease the way for financial institutions, including credit unions, to provide [...]
To help credit unions understand the compliance risks associated with serving marijuana-related businesses (MRBs), NAFCU has released a new resource featuring some pros and cons on the issue. NAFCU's new resource comes just as a [...]
A House Financial Services subcommittee is set to hold a hearing examining access to banking services for cannabis-related businesses. “We’re trying to examine how outdated banking regulations on the federal level are hindering reform [...]
The House Consumer Protection and Financial Institutions Subcommittee next week will hold a hearing on the thorny issue of banking access for those engaged in marijuana-related business. The hearing is scheduled for Feb. 13 at [...]
A recently released feasibility study determined that a public financial institution to serve the California marijuana industry would create unacceptable legal and financial risks for the Golden State. However, the report recommended that California designate [...]
Credit unions are poised to go green in 2019 – and they don’t mean championing the environment. Marijuana will be legal in more than half of the states next year. In some states the drug [...]
CUNA is pushing Congress to protect credit unions when they do business with marijuana-related businesses and would like the Senate to attach that provision to the criminal justice overhaul bill now on the Senate floor. [...]
CUNA wrote in support of an amendment to the FIRST STEP Act (S. 756) that would clarify the federal treatment of marijuana in states where it is legal Monday. The text of the CUNA-backed Strengthening [...]
Social scientists will tell you that when faced between two difficult choices, the natural inclination is to choose to do nothing. That is why, for example, umpires hate to call ball four when the count [...]
An Alaska credit union has launched a pilot program to provide financial services to marijuana businesses, which among other benefits will relieve state workers from counting $1.5 million in cash tax payments each month. [...]
I wrote a previous article titled “You are already banking marijuana. You just don’t know it.” The article focused on the fact that marijuana proceeds have a wide reach and are most likely found [...]
These are the best of times and the worst of times for marijuana banking depending on if you want to view the glass half empty or half full. I’m definitely going with half empty. [...]
A Massachusetts credit union is set to be the first financial institution in the state to serve its recently legalized recreational pot industry. GFA Federal Credit Union cited "safety issues" associated with unbanked marijuana businesses [...]
A bill that could provide more clarity on credit unions and banks doing business with marijuana-related companies in states where the substance is legal reportedly has the support of President Donald Trump, based on comments [...]
