Current Trends in Banking for Cannabis-Related Businesses

CRBs are still in a holding pattern when it comes to any new developments for traditional banking and lending access. However, there are more banks than ever doing business with the industry and political shifts in Washington offer a hopeful outlook for future legislative changes.

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Senators Introduce The Cannabis Administration And Opportunity Act

During a press conference held today, Senate Majority Leader Chuck Schumer, Senate Finance Committee Chair Ron Wyden and Senator Cory Booker introduced the Cannabis Administration And Opportunity Act, a bill that would remove cannabis from the list of controlled substances. This is the first time that a Senate Majority Leader has introduced such a bill.

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