Remove Cannabis Banking Remove Credit Union Remove Crime
article thumbnail

Credit Union Helps US Marijuana Businesses Put Down Roots

PYMNTS

Legal use does not necessarily mean legitimate business, however, and this emerging and often-controversial industry may quickly encounter financial roadblocks, which credit unions (CUs) are uniquely suited to address. I think the credit union industry plays a very vital role in serving the underserved,” Sbrega said.

article thumbnail

Lawmakers Shun State Cannabis Banking Reform

PYMNTS

Treasury Department’s Financial Crimes Enforcement Network (FinCEN), the number of banking firms that provide services for marijuana firms has grown by 20 percent since the beginning of the year, bringing the current total to 375 banks and 111 credit unions. According to data from the U.S.

article thumbnail

Bridging Banking Gaps For Cannabis Companies

PYMNTS

Treasury Department’s Financial Crimes Enforcement Network (or FinCEN for short). That brings the tally of enterprises offering financial services to cannabis companies to 375 banks and 111 credit unions. That’s according to data published at the end of last month, per data from the U.S.

Fincen 68