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 […]
Colorado’s governor signed into law on Friday a measure to create the nation’s first state-run marijuana financial cooperative, potentially giving newly legalized cannabis vendors access to banking services through the U.S. Federal Reserve. The bill signed by Governor John Hickenlooper permits the creation of so-called “cannabis co-ops” – similar to credit unions without deposit insurance […]