Cannabis Industry Grows, So Does Access to Banking Services

29 states plus the District of Columbia have legalized cannabis for medical and/or recreational use, but financial institutions are still bound by federal law, making working with cannabis companies a legal risk…

Hawaii the First State to Require Debit-Only Cannabis Sales

Beginning Oct. 1, Hawaii will be the first state in the U.S. to require cashless-only cannabis sales. A Colorado-based credit union will permit dispensaries in Hawaii to open bank accounts, and a debit app called CanPay will enable patients to purchase cannabis with their smartphones…

A Win for Cannabis Industry Banking (Sort of)

Denver-based credit union, Fourth Corner, has another shot at bringing banking to the cannabis industry. Since the beginning, banking has always been an issue for cannabis businesses since cannabis is still federally illegal, but this marks a small step forward in progress…

Illinois State Treasurer Urges Trump to Let Banks Work with the Cannabis Industry

Illinois State Treasurer Michael Frerichs issued a press release Monday, urging the Trump administration to give clear guidance to financial institutions regarding medical marijuana. In his letter, he urged President Trump to reassure banks that they will not face penalties or prosecution for doing business with state-licensed marijuana growers and dispensaries…