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Why New York banks and credit unions may be reluctant to work with marijuana companies

New York is poised to build one of the largest recreational marijuana markets in the country — on the order of billions of dollars a year — but one industry critical to that effort could struggle to get involved: banks and credit unions......»»

Category: topSource: bizjournalsApr 8th, 2021

Financial lifeline: Banks, credit unions tackle influx of demand while transforming the way they work

San Antonio bankers face an unprecedented situation. Can they rescue the businesses drowning in the fallout of the coronavirus while keeping their own crews safe?.....»»

Category: topSource: bizjournalsApr 9th, 2020

As coronavirus outbreak spreads, banks and credit unions could cut breaks on payments

Regulators encourage banks to work with borrowers who may be hit by coronavirus or virus-relat.....»»

Category: topSource: usatodayMar 11th, 2020

Knutson: Regulators warn banks, credit unions if fintechs mess up "we"re dropping the hammer on you"

As fintech companies continue developing new consumer lending platforms that utilize different techniques to determine credit quality, regulators post an ominous warning for their bank partners......»»

Category: topSource: bizjournalsDec 20th, 2019

Cannabis Watch: Push for legislation allowing banks to serve the cannabis business is gaining momentum

The push for legislation that would allow banks do business with cannabis companies without the risk of federal enforcement action is gaining momentum and credit unions are playing a key role......»»

Category: topSource: marketwatchMay 20th, 2019

Should you join a credit union?

Credit unions provide many of the same services as banks, but they work on a different business model. Is .....»»

Category: topSource: usatodayMay 1st, 2019

Should You Join a Credit Union?

Credit unions provide many of the same services as banks, but they work on a different business model. Is it a good idea to join one?Image source: Getty Images......»»

Category: topSource: foxnewsApr 29th, 2019

SAFE Banking Act Advances To House Floor After Committee Vote

The House Financial Services Committee voted Thursday in favor of the SAFE Banking Act, which would allow cannabis businesses to work with banks and credit unions. The vote advances the bill to the House floor. read more.....»»

Category: blogSource: benzingaMar 28th, 2019

Bill would allow limited-service banks for cannabis businesses

A bill before the California Senate would seek to create limited-service banks and credit unions for the cannabis industry, which is largely banned from using the regular banking system. Senate Bill 930, which would allow marijuana businesses to wri.....»»

Category: topSource: bizjournalsApr 20th, 2018

Banks say it"s too risky to do business with marijuana sellers

State-chartered banks and credit unions are encouraged by the Department of Financial Services to establish banking relationships with medical marijuana-related businesses......»»

Category: topSource: bizjournalsAug 10th, 2018

Paper money keeps the legal marijuana industry green

Banks are reluctant to work with marijuana businesses even in states that have legalized it because they could be charged with money laundering......»»

Category: topSource: moneycentralNov 24th, 2018

To protect economy, financial regulators urge lenders to work with borrowers during record shutdown

Amid the stalemate in Washington, credit unions and banks across the country have some of the more generous offers for government employees......»»

Category: realestateSource: cnbcJan 11th, 2019

Capitol Report: Washington moves closer to delivering protections for banks that work with the pot industry

Banks and credit unions often complain of legal problems for financial institutions aiming to serve cannabis-related businesses. Washington finally may deliver some protections......»»

Category: topSource: marketwatchFeb 13th, 2019

Cuomo calls on feds to make marijuana banking easier

Marijuana is legal in some form in 36 states, including New York. But banking with cannabis companies still poses a lot of risks. Gov. Andrew Cuomo and 20 other governors are asking the federal government to change that......»»

Category: topSource: bizjournalsApr 20th, 2021

US stocks fall as traders digest the Fed"s decision to let capital break for banks expire

The investor fears around inflation that drove much of the market volatility appeared to be cooling before the Fed decision. Traders work on the floor of the New York Stock Exchange (.....»»

Category: topSource: businessinsiderMar 19th, 2021

The Shopper"s High: MIT Study Says "Neural Reward Mechanisms" Trigger Credit Card Spending

For years, banks and credit card companies have known customers tend to spend more money when buying with credit cards instead of cash. read more.....»»

Category: blogSource: benzingaMar 16th, 2021

The market is rewarding investments in low-quality companies - and Credit Suisse says strong earnings may work against some stocks in 2021

Stocks of companies that reported strong fourth-quarter earnings have been underperforming those with weaker financial profiles. Lucas Jackson/Reuters Investors have been "rew.....»»

Category: topSource: businessinsiderFeb 9th, 2021

Deal offers more banking services for California pot firms

A state credit union that will provide checking, wire transfers and other banking services for more marijuana companies.....»»

Category: topSource: foxnewsJan 20th, 2021

NerdWallet: How to get relief from these credit card issuers

Here’s a sampling of credit card hardship assistance being offered by major banks, credit unions and other issuers in 2021......»»

Category: topSource: marketwatchJan 19th, 2021

Credit union hires new vice president, ABQ company announced platform for marketing campaigns

Earlier this year, Del Norte took fourth place in our Best Places to Work contest for companies in the extra large category......»»

Category: topSource: bizjournalsDec 30th, 2020

How blue-collar employees at a New York stone yard became owners of the company they work for

  Employee-owned companies are ones in which shares of the company are transferred to workers, making them the owners. One employe.....»»

Category: topSource: businessinsiderApr 16th, 2020