While cannabis companies often stumble to locate financial institutions that are willing to take them on as customers due to hazards caused by the ongoing federal prohibition of cannabis, a new analysis found that financial activity accumulates in states that legalize the sticky leaf. The examination doesn’t make a natural tie between state-level cannabis reformContinue reading “Cannabis Banking in Legal States”
Tag Archives: Cannabis banking news
Visa Issues Warning Regarding Debit Card Cannabis Purchases
Visa, one of the world’s largest card payment processing companies, issued a regulatory memo to customers alerting them that miscoding point-of-sale commerce via the use of so-called cash-free ATMs—a method used by various cannabis retailers as a workaround to receive credit or debit cards for acquisitions—could guide to damages or other unidentified compliance action. TheContinue reading “Visa Issues Warning Regarding Debit Card Cannabis Purchases”
Is Cannabis Banking Reform on the Horizon?
Senate authority has received another letter demanding that cannabis banking reform be established as part of defense legislation—this time from financial organizations and labor coalitions. The American Bankers Association, also known as ABA, the Credit Union National Association also known as CUNA, the United Food, and Commercial Workers Union, also referred to as UFCW, andContinue reading “Is Cannabis Banking Reform on the Horizon?”