A petition for the West Virginia Legislature to call itself into special session to fix the state’s medical marijuana bill failed during May legislative interim meetings, but that doesn’t mean lawmakers won’t reconsider the issue before next year’s regular session. House Speaker Tim Armstead, R-Kanawha, said he has spoken with Gov. Jim Justice and House
Recreational marijuana has been legal in Washington State since 2014 and increasingly, cannabis companies are finding credit unions and small community banks open to serving their basic financial needs. Brendan Hill is co-owner of Paper & Leaf, a cannabis shop on Bainbridge Island located a short ferry ride from downtown Seattle. He and his business
According to Kendell Lang, CEO of Fusion Bank, even with the rise in access to financial services for this sector, major service gaps remain. Financial institutions (FIs) that service the industry, she recently told PYMNTS, “don’t have the compliance people, processes or automated tools in place to meet the required guidelines — and are unknowingly
In recent weeks, top U.S. lawmakers and political influencers have offered a host of calls-to-action for federal and state reforms, sending strong signals that the legal risks tied to legal cannabis are lifting. Chief among them are calls to deschedule marijuana by two political heavy hitters: Former House Speaker John Boehner, a longtime opponent to
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?