Learn more about Fincann and the Cannabis Banking Financial Network in this financial industry publication’s featured company profile.

Fincann CEO Nathaniel Gurien shares his insights with The GrowthOp.

Fincann CEO Nathaniel Gurien tells NJ Cannabis Insider readers to “faster [their] seatbelts,” with federal legalization moves potentially on the way. Visit the Fincann blog for more insights on the Biden administration and cannabis.

Fincann CEO Nathaniel Gurien tells Benzinga that he predicts the SAFE Banking Act to pass in 2021, but that it will have little impact on the cannabis industry.

“Passage of the MORE Act will help more [banks] feel that perhaps [cannabis is] trend[ing] toward mainstream acceptance and therefore expand access to banking,” said Fincann CEO Nathaniel Gurien.

“The American electorate has once again demonstrated the growing mainstream acceptance of legal medical and adult-use [cannabis] across the political spectrum,” said Fincann CEO Nathaniel Gurien.

The Marijuana Times published an op-ed penned by Fincann CEO Nathaniel Gurien about pervasive misinformation about cannabis banking: “The nub of largely mainstream conservative bankers’ resistance to supporting our industry lies in their fundamental belief in the prevailing, demonizing propaganda.”

“Now with COVID and the additional financial pressure New York State is feeling, there is an even greater imperative for all stakeholders in New York to come to terms,” Fincann CEO Nathaniel Gurien shared with NY

Even getting a business checking account can be a high hurdle for most marijuana entrepreneurs, forcing many to rely primarily on cash transactions, according to Nathaniel Gurien, the chief executive of Fincann.

GB Sciences, which LSU selected as its exclusive grower of medical marijuana… hired a company, Fincann, whose sole purpose is to find banks for marijuana companies.

“The bottom line is that compliant cannabis banking requires full transparent supervision by a regulated financial institution,” said Nathaniel Gurien, founder and CEO of Fincann, a Manhattan-based payment solutions firm. “No solution is sustainable otherwise.”

Unlike most fledgling, growing industries, the pot business remains handcuffed when it comes to accessing everything from business loans to payroll services to electronic payment methods (including credit cards, which aren’t accepted at most dispensaries).

[FINCANN CEO Nathaniel] Gurien [believes that] the law won’t dispel the stigma that the conservative-leaning, risk-minded boards of many financial institutions have toward the topic of marijuana. The only measure that could prompt such a shift in thinking, he says, is “de-scheduling cannabis as a Schedule I drug.”

“This was the first time the CBD and hemp industry could look forward to stable merchant processing services, and (Elavon’s) decision to exit means we could go back to some of the back door, tortured, overpriced solutions that the industry had been laboring under.”

The [banking] issue stems from reluctance on the part of financial institutions to work with businesses related to marijuana sales in any way—even when those businesses are located in states that have legalized cannabis.