PYMNTS

AUGUST 6, 2019

The state of Louisiana has entered legal marijuana territory with medical cannabis access beginning this week. As a result, the state has also entered the troubled waters of cannabis banking, with legal players in the state’s marijuana industry struggling to access banking and financial services. Global Payout Inc.

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PYMNTS

APRIL 30, 2020

In previous years, Beuerlein said, financial institutions (FIs) weren’t interested in exploring how they could work with RegTechs like Hypur and other third-party players to step into the cannabis banking sector. “That appetite was not there in the beginning.”

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Innovative Payments Association

SEPTEMBER 25, 2024

We also covered third party oversight, because innovation involves working with companies outside the bank to make interesting products available to customers. Looking ahead we discussed the new rules for Earned Wage Access products, and the possibilities that might be on the horizon when it comes to cannabis banking.

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PYMNTS

NOVEMBER 1, 2018

In California, where WAYV operates, and where the legal cannabis market is expected to reach a $5.1 billion valuation by the end of the year, accepting cash at the point-of-sale (POS) and using cash to pay vendors, business partners and taxes remain commonplace.

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PYMNTS

MAY 14, 2018

The conundrum of cannabis banking in the U.S. But the cannabis market that struggles to access banking services is not limited to small dispensary storefronts (although they are undoubtedly affected by such legal hurdles). The legal marijuana industry in North America, which handled an estimated $9.7

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PYMNTS

OCTOBER 17, 2018

So, when we started talking to our board of directors about entering the cannabis banking space, we really looked to our mission statement.”. “I think the credit union industry plays a very vital role in serving the underserved,” Sbrega said. Part of our mission is to improve the quality of life in our communities.

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PYMNTS

DECEMBER 12, 2018

Another big misconception is centered, Hart said “around the time and effort required to develop, deploy, and maintain a compliant cannabis banking program. There are steps FIs can take to offer services to the industry while still maintaining compliance with their applicable regulatory requirements.

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Finovate

SEPTEMBER 23, 2024

Finovate Podcast host Greg Palmer interviews Jeff Trammell of Merchants & Marine Bank on the issue of cannabis banking and community banks. Headquartered in Pascagoula, Mississippi, Merchants & Marine Bank is a community bank that has served customers in the Gulf Coast region of the U.S.

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PYMNTS

DECEMBER 26, 2018

has rejected the STATES Act, legislation that would allow states to regulate their own cannabis industries without federal intervention. Senate Majority Leader Mitch McConnell (R-Ky.) The Motley Fool reported that Sen. Cory Gardner (R-Colo.) had on Dec.

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