California’s legislature is considering licensing its own cannabis banks to give the cannabis industry access to financial services not available to them federally. Despite the fact that cannabis businesses operate within their state’s legally regulated industries, they still represent a risk to federally licensed banks which could be charged for aiding in the trafficking of […]
The Washington Post reported that a top federal official said that 105 banks and credit unions are doing business with legal marijuana sellers, suggesting that federal rules giving financial institutions the go-ahead to provide services to dealers are starting to work. She also said the banks and credit unions doing business with marijuana sellers are located […]
In a historic vote, the U.S. House passed a bipartisan amendment preventing the Treasury Department from spending any funding to penalize financial institutions that provide services to marijuana businesses that are legal under state law. The amendment passed 231 to 192. In May, the House passed an amendment prohibiting the DEA from undermining state medical […]