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.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

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.

Legal 84

Legal Cannabis Banking Laws Payments 84

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.

Cannabis Banking 54

Cannabis Banking Legal Money Laundering Payments 54

PYMNTS

APRIL 30, 2020

As the narrative goes, legal cannabis companies, often small- to medium-sized businesses (SMBs), are forced to rely on cash for both B2B and B2C payments. Legalization at the national level is coming eventually, said Beuerlein, but that doesn’t mean banks’ willingness to service firms in this market is an inevitability.

Legal 78

Legal Credit Union Cannabis Banking Non-Bank 78

PYMNTS

OCTOBER 17, 2018

On October 4, the Massachusetts Cannabis Control Commission (CCC) issued its final four recreational marijuana licenses to businesses, meaning legal marijuana will soon be available for purchase. Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana.

Credit Union 50

Credit Union Legal Non-Bank Underserved 50

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. In California, where WAYV operates, and where the legal cannabis market is expected to reach a $5.1

Legal 49

Legal Point-of-Sale (POS) Regulations Cannabis Banking 49

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

Legal 52

Legal Fincen Compliance Due Diligence 52