Cannabis U.S. Mayors Approve Resolution to Demand Congress to End Prohibition on Marijuana by Sophia Vida June 06, 2022 An organization representing mayors from across the U.S. adopted a resolution that is demanding Congress to pass a bill to safeguard banks that work with state-legal marijuana businesses from federal penalties. The U.S. Confere...
Legal Related Bankers Associations Across the U.S. Push Senate to Pass Marijuana Banking Reform by Sophia Vida April 28, 2022 As part of a large-scale bill, banking associations that represent all 50 states and one U.S. territory, are pushing the senate to pass marijuana banking reform. The associations have sent a letter to Senate leaders this week, ...
Cannabis Massachusetts Regulators Approve the Transfer of Marijuana Banking Businesses by Sophia Vida April 04, 2022 Recently Massachusetts’ Needham Bank completed its acquisition of Eastern Bank, which includes the transfer of the cannabis banking and money service businesses after receiving the necessary regulatory approvals. Needham plan...
Legal Related Study Finds that Banking Action Rose in First Adult-Use Marijuana States After Legislation by Sophia Vida February 15, 2022 According to a new white paper, banking activity had increased in the first four states that legalized adult use marijuana. The study, released recently by four university researchers, concluded there was a “statistically and...
Legal Related A Key Senate Panel Hearing for Marijuana Banking Reform is On way by Sophia Vida July 18, 2019 Next week may be a pivotal week for the marijuana industry as a key U.S. Senate panel will meet up to consider steps on making it easier for cannabis companies to obtain banking services. The hearing is set to take place on Jul...
Trends & Articles Marijuana Legal States Are Seeking A Banking Solution for Marijuana Businesses by Sophia Vida September 04, 2018 Due to the fact that marijuana is still illegal under federal law, many banks will not even touch anything marijuana related. Marijuana-legal states are on their own trying to find a solution for banking in what is a very lucra...