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Banks Get Exposed by New York’s Unlicensed Cannabis Dispensaries

Canna Law Blog

Major banks like JPMorgan Chase and Wells Fargo, as well as landlords such as BentallGreenOak and Ashkenazy Acquisition Corp., have found themselves indirectly involved with New York City’s unlicensed cannabis dispensaries, potentially exposing them to legal issues. Signature Bank, Bank of America Corp.,

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FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Every day, hundreds and thousands of people walk into cannabis dispensaries in legal states to purchase cannabis. Many financial institutions seek to be a part of the cannabis banking movement. In the past year, 553 banks and 202 credit unions provided their services to cannabis-related businesses. However, change is coming.

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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.

Banking 79
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Dispensary Spotlight: Maribis of Chicago Westchester

Illinois News Joint

For a live menu, click here , or check our Dispensary Directory for more information about Maribis of Chicago Westchester. Maribis is an independent and female-owned cannabis company with dispensaries located in northern and central Illinois. For more Dispensary Spotlight Features, visit here. Westchesterr Ave.

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Dispensary Spotlight: Maribis of Springfield Grand

Illinois News Joint

For a live menu, click here , or check our Dispensary Directory for more information about the retail store. The retail store features cash rewards, kiosk ordering, loyalty program, daily deals, ATMs, and online ordering. For more Dispensary Spotlight Features, visit here. For more Illinois cannabis industry news, visit here.

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Dispensary Spotlight: nuEra Urbana

Illinois News Joint

Check our Dispensary Directory for more information. The retail store donates to various food banks and local charities throughout the year and was 2022 C-U Pride Parade Winner. For more Dispensary Spotlight Features, visit here. The post Dispensary Spotlight: nuEra Urbana appeared first on Illinois News Joint.

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Cannabis and banking vets launch credit card for dispensaries

Cannabis Law Report

Since the United States classifies cannabis as a Title IV drug, the banking industry is unwilling and unable to provide services to cannabis operations. That leaves dispensaries managing and protecting massive sums of cash, and the stores cannot offer a modern retail payment system to the consumer. There’s even a loyalty program.

Banking 52