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Hot off the press cannabis, marijuana, cbd and hemp news from around the world on the WeedLife News Network.

U.S. Sen. Warren seeks to pull pot shops out of banking limbo – Cannabis News

BOSTON (AP) -- As marijuana shops sprout in states that have legalized the drug, they face a critical stumbling block - lack of access to the kind of routine banking services other businesses take for granted.

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U.S. Sen. Warren seeks to pull pot shops out of banking limbo – Cannabis News

BOSTON (AP) -- As marijuana shops sprout in states that have legalized the drug, they face a critical stumbling block - lack of access to the kind of routine banking services other businesses take for granted.

Continue reading

Bernie Sanders Wants Fewer Cannabis Banking Regulations – Cannabis News

Despite any recent election disappointments, Bernie Sanders has not slowed down in the least when it comes to supporting causes he cares about, like fair and equal treatment for cannabis businesses.

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Bernie Sanders Wants Fewer Cannabis Banking Regulations – Cannabis News

Despite any recent election disappointments, Bernie Sanders has not slowed down in the least when it comes to supporting causes he cares about, like fair and equal treatment for cannabis businesses.

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As Marijuana Sales Grow, Start-Ups Step In for Wary Banks - Marijuana News

New start-ups have been putting together software that helps banks and dispensaries monitor and record transactions, with the long-term goal of moving transactions away from cash.

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Colorado's pot industry is a cash business. A small credit union wants to change that. – Marijuana News

Customers shop at the Grass Station dispensary in Denver. Because of federal banking regulations, Colorado's $700-million-a-year industry runs almost entirely on cash. Image: Brennan Linsley, Associated Press via Los Angeles Times

Calling itself the "littlest David" battling the "biggest Goliath," a fledgling Colorado credit union took the Federal Reserve to court Monday in a case that may determine whether the cannabis industry will bank openly or continue to operate almost entirely in cash.

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Feds Block Push by Colorado to Create Pot Bank

File image of the Fourth Corner Credit Union building in Denver. AP Photo/David Zalubowski
Kristen Wyatt ~ Associated Press
 
DENVER (AP) -- Colorado's attempt to create a bank to service its marijuana industry has received a setback from the Federal Reserve.
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The marijuana banking dilemma

Mark Goldfogel with The Fourth Corner Credit Union speaks at the National Cannabis Summit. Image: WeedWorthy.com
Bruce Kennedy ~ WeedWorthy ~
 
Denver’s Fourth Corner Credit Union launched last year as an answer to the legal marijuana industry’s inability to access financial institutions. But the Fed had other plans.
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Pot Risk vs. Profit: Bankers Cautious of Marijuana Dispensaries

Interior of the Euflora dispensary in downtown Denver. Image: WeedWorthy.com
Clarissa Cooper and Michael Bodley ~ Carnegie-Knight News21 initiative via NBCNews.com ~
 
DENVER — Every month, Jamie Perino hires a security detail to come to her three recreational marijuana dispensaries. They stop by, collect thousands of dollars in cash and head out to deliver the money to the state, county and city.
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KC Fed finds itself at the center of marijuana debate

The Federal Reserve Bank of Kansas City is the target of a lawsuit filed by a credit union seeking to serve the marijuana industry. Image: Dave Kaup/KCBJ
 
The Federal Reserve Bank of Kansas City finds itself in the middle of a heated debate about the legalization of marijuana, as the target of a lawsuit filed by a credit union seeking to serve the industry.
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Blossoming Denver-based marijuana credit union denied by Feds; suit filed

U.S. Federal Reserve System Seal. Image via Wikimedia Commons
Kieran Nicholson ~ Denver Post ~
 
A Denver-based credit union aiming to become the first of its kind — one created to serve the Colorado marijuana industry — has suffered a setback.
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Does Anybody Want $3 Billion in Cash From Pot Sales? Big Banks Say No, Thanks

Image of Legal Marijuana plants available for sale
 
The U.S. government has opened a new line of business for America’s biggest banks, and for once they don’t want it. Little wonder: it’s cash from legalized marijuana.
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