Browsing: Marijuana

Mortgage

In remarks at the American Bankers Association Washington Summit today, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) previewed several policy initiatives that the committee will pursue under her leadership, including housing reform, cannabis and Bank Secrecy Act/anti-money laundering reform.

Newsbytes

By a vote of 45 to 15, the House Financial Services Committee today advanced the American Bankers Association-backed Secure and Fair Enforcement Banking Act, which would address the issue of providing financial services to cannabis-related businesses.

Newsbytes

Ahead of tomorrow’s markup of the bipartisan Secure and Fair Enforcement Banking Act—which would address the issue of providing financial services to cannabis-related business—the American Bankers Association wrote to members of the House Financial Services Committee today in support of the bill.

Compliance

Reps. Ed Perlmutter (D-Colo.), Denny Heck (D-Wash.), Steve Stivers (R-Ohio) and Warren Davidson (R-Ohio) today introduced a bipartisan bill that aims to address the gap between state and federal laws that inhibit most financial institutions from serving cannabis businesses.

Compliance

With cannabis now legal in 33 states and the District of Columbia, an overwhelming number of banks – 99 percent, according to a recent ABA survey — want Congress to take action to address the gap between state and federal law that prevents banks from serving marijuana-related businesses in states that have legalized the drug.

Compliance

With the House Financial Services Committee set to hold a hearing tomorrow on the challenge of banking marijuana-related businesses, ABA today submitted a statement for the record urging Congress to resolve the legal conflict that inhibits banks from serving MRBs operating legally at the state level.