That’s why in recent years an entire industry of cannabis security companies has emerged, aimed at relieving clients of the danger of moving cannabis products and large sums of cash. Hardcar Security is one of those companies. The company’s agents, most of whom are military veterans, carry sidearms, pepper spray and wear bullet-proof vests. They
A bill proposed in California would create limited-service banks and credit unions to serve the state’s cannabis industry, according to a CNBC report. The measure, approved unanimously by the Senate Bank and Financial Institutions Committee, would allow canna-businesses to write special checks to pay some of their business expenses. What would the program look like?
California would license special banks to handle billions of dollars generated by the legal marijuana market under legislation buoyed by recent comments from the Trump administration and given initial approval by state lawmakers Wednesday. The measure gained momentum just days after President Trump indicated that his administration would not crack down on recreational marijuana in
Hoping to reduce the threat to public safety and the risk of a federal crackdown, California officials are trying to develop a new cannabis banking system — one that enables regulators to track pot transactions and gives financial institutions confidence that they won’t get in trouble for working with marijuana businesses. The goal of the
Officials in Gov. Jerry Brown’s administration have quietly met with representatives of 65 banks and credit unions over the past few weeks about creating a network of financial institutions that would accept funds from pot businesses in a way that would guarantee federal banking regulators that the cannabis industry money is subjected to special tracking,