Colorado Monthly Marijuana Sales Top $100 Million; Businesses Still Struggle With Cash Overflow
Fri / Oct 16th
Sales of Colorado cannabis broke the $100 million mark in August for the first time. Recreational sales made up $59.2… Read More
Banking
Cannabis banking remains a huge challenge for legal cannabis business owners. Since banking is a federally regulated market, banks and lenders are not able to easily work with cannabis brands. The high cash intake of the cannabis industry combined with the lack of banking establishment can put businesses in a dangerous position. Read about banking regulations, policies, and more in this category:
Federal Reserve Bank Denies Marijuana Credit Union Application
Thu / Aug 6th
A Denver-based credit union hoping to become the first to serve the Colorado cannabis industry was denied an application for… Read More
Senate Committee Approves Marijuana Business Banking Services Bill
Fri / Jul 24th
The Senate Appropriations Committee has approved a measure that would protect banks that choose to provide services to marijuana businesses.… Read More
Proposed U.S. Senate Bill Would Grant Marijuana Businesses Bank Access
Tue / Jul 14th
A bill that would grant banking access to legal marijuana businesses has been introduced in the U.S. Senate, paving the… Read More
Oregon’s Only Cannabis-Friendly Bank Closing All Marijuana Business Accounts
Tue / Apr 14th
MBank, Oregon’s sole bank offering financial services to businesses in the marijuana sector, has announced that it will close its… Read More
Marijuana-Friendly Oregon Bank Backs Out On Colorado Cannabusiness
Wed / Jan 28th
Last week, Oregon-based MBank announced an unprecedented commitment to the cannabis industry that would cross state borders and give banking opportunities to… Read More
Oregon Bank Now Serving Colorado Cannabusinesses
Wed / Jan 21st
MBank, an Oregon bank based outside of Portland, has publicly announced that it will be serving businesses in the legal… Read More
Colorado Cannabiz Credit Union Could Open By Jan. 1
Sun / Nov 23rd
The world’s first banking institution established to serve legal marijuana businesses could be open in Colorado by January 1, the Denver Post… Read More
Brief: ATM Services Unexpectedly Pulled from Hundreds of Marijuana Retail Stores
Sat / Oct 25th
On Wednesday, cashless ATM services were pulled from hundreds of legal marijuana dispensaries and retail marijuana shops. According to Marijuana Business… Read More
Brief: New Mexico Credit Unions to Close MMJ Bank Accounts
Fri / Oct 3rd
Credit unions in New Mexico have decided to close the bank accounts of many state-licensed medical marijuana producers. The credit… Read More
Is Amazon Eyeing the Cannabis Industry With its New Credit Card Processing System?
Wed / Aug 13th
Amazon’s recently-announced mobile credit card payments service, Amazon Local Register, is the massive corporation’s latest attempt at raising revenues — and,… Read More
Banking in Cannabis Industry Seen as “Trade Secret”
Thu / Mar 6th
The marijuana legalization movement was accompanied by an explosion of helpful information about how to get your budding marijuana business… Read More
Feds Allow Banks to Serve Cannabis Industry
Tue / Feb 18th
Last Friday, the federal government carried through on last month’s promise and delivered new banking regulations intended to help banks… Read More
State-Owned Bank Could Serve Marijuana Industry in WA
Wed / Feb 5th
Senator Bob Hasegawa of Seattle has proposed a solution to the cash-only economy that medical (and soon recreational) marijuana companies… Read More
New Banking Regulations Expected for Cannabis Industry
Tue / Jan 28th
The trail to federally-recognized marijuana services was unveiled last week when Attorney General Eric Holder said that the Obama administration… Read More
Checks and Balances: Financial Regulation and the Cannabis Industry
Sat / Sep 21st OPINION
Why can’t owners of cannabis businesses cut a check? Because they don’t have a checkbook. On September 10th, the Senate… Read More