Tag: banking

(52 posts)
May 5, 2015
05/05/2015
Sonoma County, California, Wages Quiet War On Weed

Sonoma County, California, Wages Quiet War On Weed

Yarrow Kubrin was recently to be sentenced to four years in prison. His crime? He was growing medical cannabis in complete compliance with state laws.
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April 28, 2015
04/28/2015
Rising Marijuana Sales Leave Pot Shops Flush With Cash They Can’t Deposit

Rising Marijuana Sales Leave Pot Shops Flush With Cash They Can’t Deposit

Two months from now, on July 1, Oregon will become the fourth state to allow residents to legally purchase marijuana for recreational use. In anticipation of legalization,...
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March 31, 2015
03/31/2015
Medical Marijuana Sparks New Technology

Medical Marijuana Sparks New Technology

The emerging cannabis industry has not only created thousands of new jobs, it has also given birth to a new technology niche. Existing software companies are adapting...
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March 20, 2015
03/20/2015
Medical Marijuana Bill Gains Momentum in Senate

Medical Marijuana Bill Gains Momentum in Senate

A push to legalize medical marijuana at the federal level is gaining momentum in the Senate, drawing a growing roster of co-sponsors from both parties just over...
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March 11, 2015
03/11/2015
Medical Marijuana Bill Introduced in US Congress

Medical Marijuana Bill Introduced in US Congress

The bill is a serious step in the right direction that would reclassify cannabis from a schedule I (no medical benefits, high rate of addition) to a...
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February 3, 2015
02/03/2015
Oregon Bank Accepts Cannabis Business, Then Rescinds Offer

Oregon Bank Accepts Cannabis Business, Then Rescinds Offer

MBank made a brash move and widely publicized their intention to work within the cannabis market, without first seeking FDIC approval.
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January 21, 2015
01/21/2015
At Long Last: The First Cannabis Based Credit Union to Open

At Long Last: The First Cannabis Based Credit Union to Open

Finding banks who will cater to cannabis businesses has been a constant obstacle for new ganjapreneurs opening up shops since states began legalizing in the U.S. But...
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December 9, 2014
12/09/2014
Colorado OKs Marijuana Credit Union

Colorado OKs Marijuana Credit Union

Colorado’s marijuana businesses have a cash flow problem: Too much cash is flowing in and they’ve nowhere to put it. Most banks refuse to work with marijuana...
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November 24, 2014
11/24/2014
Colorado Pot Credit Union Could Be Open by January 1 Under State Charter

Colorado Pot Credit Union Could Be Open by January 1 Under State Charter

The world’s first financial institution established specifically for the marijuana industry could be open in Colorado by January 1. The Colorado Division of Financial Services late Wednesday...
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October 3, 2014
10/03/2014
NORML PAC Endorses Representative Heck for Congress

NORML PAC Endorses Representative Heck for Congress

NORML PAC is pleased to endorsed Representative Denny Heck (D-WA) in his campaign to be reelected to the United States Congress representing Washington’s 10th Congressional District. “Rep....
By: NORML
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September 17, 2014
09/17/2014
The Banking Bind: How Federal Law Is Making Business Difficult for Cannabis Dispensaries 

The Banking Bind: How Federal Law Is Making Business Difficult for Cannabis Dispensaries 

While cannabis remains federally illegal, the banks hesitate to serve medical dispensaries despite their treatment as legal businesses by the state.
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September 10, 2014
09/10/2014
Massachusetts Marijuana Dispensaries Need Access to Banking System

Massachusetts Marijuana Dispensaries Need Access to Banking System

Nearly two years after Massachusetts voters approved medical marijuana, nine distribution centers are to open next year in places like Brookline, Lowell, Salem, and Quincy. The state licensing...
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August 14, 2014
08/14/2014
Let It Grow: Banks Offering Financial Services to Marijuana-Related Businesses

Let It Grow: Banks Offering Financial Services to Marijuana-Related Businesses

About 105 different financial institutions spread out over one-third of the country have reported relationships with legal marijuana-related businesses, the top U.S. anti-money laundering official said Tuesday,...
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July 18, 2014
07/18/2014
House Votes to Let Banks Take Deposits From Marijuana Businesses

House Votes to Let Banks Take Deposits From Marijuana Businesses

In a historic vote Wednesday, the US House has approved an amendment to the Treasury Department appropriations bill barring the agency from spending any money to punish...
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July 17, 2014
07/17/2014
GOP-Led House Gives Marijuana Businesses Another Boost

GOP-Led House Gives Marijuana Businesses Another Boost

When it comes to liberalizing marijuana policy, Congress has once again shown that it is not always the liberals taking the lead. The GOP-dominated House on Wednesday...
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July 7, 2014
07/07/2014
IRS Fines Unbanked Pot Shops for Paying Federal Payroll Tax in Cash

IRS Fines Unbanked Pot Shops for Paying Federal Payroll Tax in Cash

Legal marijuana businesses without bank accounts are unfairly assessed a 10 percent penalty on federal employee withholding taxes they are forced to pay in cash. And rather than...
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June 17, 2014
06/17/2014
Burglaries at Denver Marijuana Shops Slow, But Industry Still Worried

Burglaries at Denver Marijuana Shops Slow, But Industry Still Worried

Even with the start of legal recreational marijuana sales 5½ months ago, burglaries and robberies at all pot businesses in Denver are on pace for their lowest...
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June 9, 2014
06/09/2014
Colorado Law Sets Up Marijuana Banks; Feds Must OK

Colorado Law Sets Up Marijuana Banks; Feds Must OK

Gov. John Hickenlooper signed legislation Friday that tries to establish the world’s first financial system for the newly legal marijuana industry in Colorado. It would allow pot businesses to...
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May 12, 2014
05/12/2014
Strictly Business: Marijuana Debate Far From Over

Strictly Business: Marijuana Debate Far From Over

It seems like every day brings a new surprise in the awkward transition of marijuana from outlaw status to social acceptance. In the blending between those ready...
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May 12, 2014
05/12/2014
3 Months Since Legalizing Marijuana, Here’s What Colorado Looks Like

3 Months Since Legalizing Marijuana, Here’s What Colorado Looks Like

Colorado’s Department of Revenue reports that marijuana retailers sold nearly $19 million in recreational weed in March, up from $14 million in February. The first three months of...
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