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The cannabis industry received support from one of Congress’s strongest supporters on the “war on drugs.”On Monday, Democratic Senator Chuck Schumer signed on as a co-sponsor of the Compassionate Access, Research Expansion and Respect States Act of 2015. The legislation (known as the CARERS Act) would effectively end the federal…

Many cannabis companies are having a tough time opening a bank account and it is putting innocent people at risk. A bank account serves as the lifeline of any business and it is tough to operate (successfully) without one. The high cash nature of a cannabis business requires access to…

Yesterday, a group of bipartisan senators from Oregon and Colorado introduced a bill that would legalize banking for recreational marijuana businesses. The bill would prohibit the federal government from penalizing banks that work with marijuana businesses.The bill was sponsored by Senators Jeff Merkley (Democrat), Ron Wyden (Democrat), Michael Bennet (Democrat),…

Many cannabis companies are having a tough time opening a bank account and it is putting innocent people at risk. A bank account serves as the lifeline of any business and it is tough to operate (successfully) without one. The high cash nature of a cannabis business requires access to…

The bipartisan bill introduced in the Senate earlier this month has gained support from important policy makers.Yesterday, a similar bipartisan bill was introduced in the House of Representatives. The Compassionate Access, Research Expansion and Respect States (CARERS) Act was introduced by Democrat Steve Cohen (Tennessee) and Republican Don Young (Alaska).…

California State Senator Barbara Boxer announced her support for the bipartisan bill that would effectively end the federal ban on medical marijuana and implement a series of reforms.Senator Rand Paul (Ky.), Cory Booker (N.J.), and Kirsten Gillibrand (N.Y.) introduced the bill last week. Among its many provisions, the bill would…

Well that did not take long. MBank has announced that they are pulling out of Colorado because, “They do not have the infrastructure to handle the overwhelming response for service.”This is not surprising, but still disappointing. Not having a banking system is place is just an accident waiting to happen.…