Comptroller of the Currency Joseph Otting said today that he hopes that the current conflict between state and federal laws that inhibits banks from serving cannabis-related businesses will be resolved by 2020.
ABA President and CEO Rob Nichols appeared on Kevin Cirilli’s Bloomberg Radio show yesterday to discuss the legislative outlook for the banking industry in the 116th Congress
For an industry caught between state and federal law, a change can’t come soon enough.
As more and more states legalize the use and sale of marijuana, more and more banks are finding themselves caught between the pincer of local needs and federal law.
The gray area of marijuana-related businesses makes it a difficult judgment call for banks—regardless of their policies on cannabis customers.
CBA helping bankers understand this issue, whether they want to serve marijuana businesses or desire to keep cannabis funds out of the bank.
Giving her first public remarks since becoming FDIC chairman two weeks before, Jelena McWilliams today previewed several elements of her agenda at an industry conference in Washington, D.C.
Did you ever wonder what it’s like to be a banker on the Last Frontier? On the latest episode of the ABA Newsbytes Podcast, co-hosts Evan Sparks and Shaun Kern interview Michael Martin, EVP, COO and general counsel of Northrim Bank, a community bank based in Anchorage, Alaska, with branches across the far-flung 49th state.
The Justice Department has revoked prior guidance on enforcement of federal marijuana laws in states where the drug has been legalized, Attorney General Jeff Sessions said today in a memo to federal prosecutors.
On the latest episode of the ABA Newsbytes Podcast, Jeffrey Ball — president and CEO of Friendly Hills Bank, Whittier, Calif. — discussed several emerging issues in public policy — including banks’ role in financial innovation and protecting consumers, as well as the increasingly urgent need to address banking marijuana-related businesses.