Innovative Payments Association

AUGUST 29, 2024

Due to the federal illegality of cannabis, many banks are hesitant to work with cannabis businesses, making it difficult for these companies to operate smoothly. To navigate the complex world of cannabis banking compliance, businesses must develop a strong compliance program.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

PYMNTS

OCTOBER 17, 2018

GFA joins a small, but steadily growing, group of CUs that are offering financial services to this emerging market. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), there are approximately 100 credit unions nationwide currently working with legalized marijuana businesses.

Credit Union 50

Credit Union Legal Non-Bank Underserved 50

PYMNTS

DECEMBER 26, 2018

The STATES Act would allow those in the cannabis industry to secure basic banking services so they won’t have to rely so heavily on cash. According to data from the U.S.

Cannabis Banking 55

Cannabis Banking Fincen Legal Credit Union 55

PYMNTS

DECEMBER 12, 2018

To that end, the number of banking firms that actively provide services for marijuana firms has grown by 20 percent since the dawn of 2018. Treasury Department’s Financial Crimes Enforcement Network (or FinCEN for short). That’s according to data published at the end of last month, per data from the U.S.

Fincen 68

Fincen Legal Credit Union Financial Crimes 68