Largest U.S. Banks Host Accounts for Marijuana Businesses, Says American Banker

banks and marijuana money...closer than they say

FLORIDA: A recent study commissioned by industry journal American Banker reveals that the nation’s four largest banks have opened accounts for pot shops and marijuana-related businesses. Conducted by MRB Monitor, a firm that helps financial institutions identify the risks associated with the marijuana industry, the study examined public records in the state of Massachusetts and found that 34 Read the full article…

CannaScore Offers Free Compliance Auditing Tool After Bank Revoked Its Credit Card Processing Privileges

cannascore

COLORADO: CS Compliance Systems, developers of CannaScore – the world’s first real-time regulatory compliance auditing application for the cannabis industry, announced that its credit card processing privileges were revoked after their bank realized that CannaScore was providing services to the marijuana industry. In response, the company announced that it is now offering its products free of Read the full article…

The PayPal Of Recreational Pot: Startup Aims To Eliminate Cash From Washington State Marijuana business

Everyone uses cash because banks, which are federally regulated, aren't keen on the idea of getting into business in an industry that is still federally illegal.

WASHINGTON: Recreational marijuana may be legal in Washington state, but in many ways, it’s still a risky business. The biggest risk is that nearly all transactions happen with cash. And not just customers buying marijuana, but much bigger transactions when retailers buy from the producers that actually grow the pot. Everyone uses cash because banks, which Read the full article…

I-502 Compliant Banking & Merchant Services Is Monday, June 29th In Bellevue, WA

WASHINGTON: If you have anything to do with banking or merchant services for Washington’s legal cannabis industry, you’ll want to make sure to attend the Marijuana Business Association’s Professional Education Seminar on I-502 Compliant Banking & Merchant Services, Monday, June 29th, 2015 1:00-4:30PM a the Red Lion Hotel, 11211 Main St. Bellevue, WA 98004. Featuring an impressive Read the full article…