Cannabis Banking Laws Legal 
Innovative Payments Association
AUGUST 29, 2024
With the growing legalization of cannabis across the U.S., However, one major challenge that cannabis businesses face is banking compliance. 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.
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 problem with that, according to CEO Keith McCarty of cannabis logistics company WAYV (which recently raised Seed funding ), is that many of the existing tools and processes are broken. The fact that marijuana remains illegal under federal law means industry players struggle to access banking services.
PYMNTS
MAY 14, 2018
The conundrum of cannabis banking in the U.S. is both a headache for legal marijuana businesses and an intriguing case study for the financial services industry. The legal marijuana industry in North America, which handled an estimated $9.7 The legal marijuana industry in North America, which handled an estimated $9.7
PYMNTS
DECEMBER 26, 2018
17 reintroduced the STATES (Strengthening the Tenth Amendment Through Entrusting States) Act, which is designed to protect the interests of states where marijuana use is legal. Right now, there are 32 states where medical marijuana is legal, and 10 that allow adult recreational-use pot. Cory Gardner (R-Colo.) had on Dec.
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. billion worth of legal cannabis products. was set for an important vote this week in the U.S. Market Growth. population. population.
Expert insights. Personalized for you.
52 
Let's personalize your content