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.
Payments Source
SEPTEMBER 30, 2019
A lot of the legal risk for banks and traditional payment companies would go away under the law, said Anita Boomstein, a partner at Manatt, Phelps & Phillips.
PYMNTS
NOVEMBER 1, 2018
The fact that marijuana remains illegal under federal law means industry players struggle to access banking services. It creates a bit of a contradiction for the marijuana market: While companies can embrace innovation from the beginning, many are forced to rely on cash, shut out completely from digital banking tools.
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
PYMNTS
DECEMBER 26, 2018
In hopes of having the STATES Act passed into law, Gardner reintroduced it as an amendment to the First Step Act, a criminal justice reform bill that is expected to be passed into law. The Act’s failure to get by McConnell follows comments made by Rep.
Payments Source
SEPTEMBER 25, 2019
The legislation included changes designed to attract more Republican support, which is key to the measure ultimately becoming law.
PYMNTS
MARCH 27, 2019
A bill that could bring clarity to payments for legal cannabis purchases in the U.S. House of Representatives — though there is still a long path before that bill would become law. It can take a lot for a bill to become a law, as we have learned not only via civics and history classes but real life experience.
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