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Banking for Cannabis Growers

Canna Law Blog

Though many business owners may find banking to be a headache regardless of industry, few business owners have more hurdles to deal with than cannabis growers and dispensaries. The current state of cannabis banking can have a significant impact on where cannabis business owners keep their money and whether they obtain cannabis loans.

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Cannabis Banking Today

Canna Law Blog

We are helping build out another cannabis banking program here in Oregon. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

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Cannabis Banking: All Businesses are Marijuana Related Businesses

Canna Law Blog

Guidance on banking and MRBs. Department of Justice on “Marijuana Related Financial Crimes” was rescinded in 2018 , the FinCen Memo has been the only game in town for federal banking guidance. But banks don’t really use that. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

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NORML Issues Cannabis Policy Guidance For Lawmakers and Prosecutors For Protecting Public Health During COVID-19 Crisis

NORML

. “In this era of tremendous uncertainty, it is crucial that policymakers use every tool in their toolkit to promote public health and safety.

Policy 263
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Complete list of NJ dispensaries selling weed, edibles, vapes

Medical Marijuana Program Connection

Yes, there is a New Jersey legal weed dispensary near you. It may not be in your town, but it’s probably in your county. In most parts of the state, you should have one within a half-hour drive at the most. And in some places — like Somerset, Mount Holly. Read More

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Federal policy kills buzz for advertising pot

Cannabis Chronicles

Much the way banks are unwilling to finance cannabis startups, television networks and online advertising marketplaces are understandably cautious because the Feds still classify marijuana as a Schedule 1 drug alongside heroin and ecstasy. Many companies rely on the “bud tenders” manning the counter at dispensaries around California.

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Mastercard Directives Block Cannabis Purchases on Debit Cards

Veriheal

In a recent controversial move, Mastercard issued a directive to United States banks, ordering them to block cannabis purchases on its debit cards. This new mandate struck a chord because, unlike credit cards, debit cards are linked directly to an individual’s bank account.

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