May 10, 2021

Cannabis Seeds and Banking: How Does It Work?

If cannabis flower is federally illegal because it contains THC, are cannabis seeds legal because they don’t? The issue is complicated.
May 6, 2021

How Sen. Chuck Schumer’s Plan Could Change Federal Cannabis Laws

Proponents of cannabis legalization have had a lot to celebrate in recent months, with several states passing ballot measures or legislation to support the creation of adult use or medical industries. However, that enthusiasm has not made its way to the federal level. Many hoped that the election of Joseph R. Biden, Jr., would usher in new, more favorable attitudes toward cannabis decriminalization or legalization, but that glimmer is fading by the day. While the executive branch may not be […]
April 30, 2021

How many banks work with cannabis? It’s fewer than you think.

Banking services are one of the cornerstones of starting any successful business, but the cannabis industry has ben unfairly shut out for quite some time. While the industry continues to grow as more states create adult-use or medical programs, cannabis-based business owners and entrepreneurs continue to struggle with access to basic services like business checking accounts, forcing cash-only operations for many. There are numerous cannabis banking myths about why financial institutions are so hesitant to work with this industry. One […]
April 15, 2021

What to Do If You Lose Your Dispensary Bank Account

If your bank refuses to continue servicing your plant-touching business or otherwise dismisses you, here’s what you need to do next.
April 5, 2021

Delta-8-THC and Cannabis Banking: What Do We Know – Or Don’t Know?

Part of the legal ambiguity surrounding Delta-8-THC is that it can be isolated from both hemp and marijuana. This can affect banking services for Delta 8 products and businesses.
March 24, 2021

Why Is Seed To Sale Software So Important for Cannabis Banking?

This software is key for cannabis industry compliance, but the data it gathers is important for obtaining banking, too. Why is that the case?
February 25, 2021
Fincann Are Cashless ATMs Next

Are Cashless ATMs The Next Target of Federal Enforcement?

The former CEO of Eaze plead guilty to conspiracy to commit bank fraud. It's a painful reminder that many common industry workarounds are in fact fraudulent -- including and especially the popular cashless ATM workaround solution.
February 25, 2021

Ancillary Businesses and Cannabis Banking: Issues and Solutions

While plant-touching businesses generally feel the brunt of cannabis banking issues, the industry's ancillary businesses – those that provide support services to plant-touching companies – also face significant obstacles. What are these issues?
February 24, 2021

What’s at Stake When You Lie to Your Bank?

Not being fully transparent with the bank – or wholly lying to the bank about your business — has real consequences. What’s at stake when you don’t tell the whole truth about your cannabis business to your banking partner?
February 16, 2021

Fintech Solutions and Cannabis Banking: What Works and What Doesn’t?

How can fintech be a part of the financial future of cannabis?
April 22, 2019

Congress Weighs New Banking Laws That Could Light Up The Pot Business

[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.”
April 22, 2019

Hemp Companies Left Looking For Bank Alternatives

“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.”
January 22, 2019

Cannabis Cash Concerns

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.
November 20, 2018

Understanding the Business of Medical Marijuana

Medical marijuana allows Ajay Suman, MD’s cancer patients a safer alternative to opioids for chronic pain. It can be an effective treatment for his terminally ill patients, says Suman, a New York-based anesthesiologist and a professor of anesthesiology and pain medicine at Weill Cornell Medicine, who is qualified to evaluate patients in New York State who want to use marijuana for medical reasons.
November 13, 2018

Risk remains a four-letter word for banks when it comes to cannabis, even though there is nothing to fear

There is still a great deal of misinformation and a lack of information surrounding cannabis banking and the related banking product of MasterCard/Visa merchant processing. Most glaring is the misinformation that the federal government is the primary obstacle to banks providing even the most basic service of a business checking account for an MRB, or marijuana-related business.
November 13, 2018

FINCANN Wants to Solve the Cannabis Banking Problem

FINCANN Chief Executive Officer Nathaniel Gurien said he’s always been a risk-taker. At 65, he’s spent most of his career in global consumer electronics commerce. Although the marketplace was hyper-competitive, he succeeded by taking advantage of differences in pricing, distribution, and banking practices in international markets. He also became an active member of national banking compliance and anti-money-laundering trade associations.
October 4, 2018

Marijuana Banking: Front Line Perspectives for AML Professionals

It is understandable and reasonable for many folks to remain skeptical of recent claims of medical efficacy and harmless non-consequential recreational use of cannabis, given decades of pervasive messaging to the contrary. However, it is vital for today’s AML and banking professionals to understand the truth, to take timely advantage of an opportunity, and to tackle a looming and severe danger both to our communities and our financial system.
October 2, 2018

Understanding Payment Processing in the Cannabis Industry

Because the cannabis industry in the United States is still technically illegal on the federal level, many banks are hesitant to accept or handle the money that is involved in this “high-risk” trade. This creates some complex problems for companies which are operating completely within regulatory guidelines; because marijuana-related businesses (MRBs) are forced to run cash-only businesses, this makes them huge targets for crime and creates frustrating, and often confusing, accounting hurdles to jump.
October 2, 2018

FINCANN Has A Solution To Cannabis Banking

If you haven’t heard about the issues surrounding cannabis banking, then it’s time to get familiar. Despite being legal in some form in over 25 states, federal law still makes it hard for banks to accept money from the industry. According to federal law Marijuana is still a schedule I prohibited drug. Other drugs in this category are heroin, cocaine and LSD. Any federal bank that does business with cannabis growers, distributors or dispensaries are subject to penalization for money […]
October 2, 2018

Make Millions Thanks to California’s Cannabis Explosion

$20.2 billion is expected to pour into California’s cannabis market in just the first year the state goes fully legal – and investors who know how to get in on the ground floor could see a small stake turn into a million-dollar windfall. We’ve narrowed the pool to three tiny companies expected to deliver once-in-a-lifetime fortunes. But once these stocks go from $1 to $10, to $20, or more… you may never see a chance like this again.
October 2, 2018

Shop Talk: The financial-service challenges faced by cannabis-related businesses

Even as Congress is expected to soon legalize hemp as a crop — with implications for activities ranging from medical treatments and construction materials to fabrics and investment opportunities — cannabis businesses have effectively been shut out of the banking business, leaving them with piles of cash and few effective ways to secure and manage it. Our guest, Nathaniel Gurien, founder of FINCANN, connects pot-related business with the so-called Cannabis Banking Financial Network, joins us to discuss those issues.
October 2, 2018

Effects of the Black Market on the Legal Cannabis Industry

Legalization was supposed to end cannabis-related organized crime. However, despite recreational and medical legalization spreading like wild fire across North America and Europe, the black market persists just the same as it ever has. And it will continue to. Price is the biggest reason for that. It’s easy to believe that celebrity branded, high quality marijuana is a no brainier, however the majority of consumers aren’t cannabis connoisseurs and simply want the most bang for their buck. If the government […]
October 2, 2018

Pot industry to Sessions: Really? Calm (mostly) prevails after federal storm

U.S. Attorney General Jeff Sessions’ action to rescind policies that let states’ marijuana industries proceed without federal intervention landed with a thud in the industry in Washington state and elsewhere. Sessions’ new stance will let federal prosecutors decide how aggressively to enforce federal law prohibiting it, giving added uncertainty to an industry long used to it.
October 2, 2018

Legal pot’s high is thwarted by leery bankers

Reggae star Peter Tosh’s 1975 pro-marijuana anthem called to “legalize it, don’t criticize it.” But an extremely critical edict from the Trump administration threatens to send the legalization trend up in smoke, starting with pot purveyors’ ability to open bank accounts.
October 2, 2018

WIRE: Jeff Sessions moves to rescind cole memo, prosecute legal cannabis

Washington, D.C. – Today, U.S. Attorney General Jeff Sessions announced that the Department of Justice has rescinded the “Cole Memo” and two additional memos related to marijuana enforcement policy. These memos, issued in 2013 and 2014, have helped to clarify the Department’s response to state-legal cannabis activity.
October 2, 2018

10 Cannabis CEOs Give Us Their Take on Jeff Sessions’ Policy Decision

As many readers may have already heard, Attorney General Jeff Sessions rescinded the Cole Memorandum, the Obama-era policy that gave protection from federal prosecution for the state-sanctioned consumption, cultivation, and sale of cannabis.
October 2, 2018

Why Jeff Sessions’ New War on Marijuana Hasn’t Frightened Investors or Cannabis Entrepreneurs

Someone’s always gotta’ try and ruin a good party. Last week it was Jeff Sessions. Californian’s were granted the long-awaited right to possess cannabis for both medical and now recreational purposes and the world watched vicariously for a whole four days until someone knocked over the punchbowl.
October 2, 2018

DOJ guidelines threaten legal cannabis trade

Jan. 4, 2018, memo by U.S. Attorney General Jeff Sessions gives law enforcement the right to prosecute marijuana-related activities, even in states that have legalized these practices. Sessions maintains marijuana cultivation, distribution, possession and use have always been illegal, despite the previous administration’s policy against prioritizing prosecution of several types of cannabis-related activities in states that have legalized it.
October 2, 2018

12 Quotes from Cannabis Experts on Jeff Sessions Rescinding the Cole Memo

If you didn’t know by now, Jeff Sessions is moving to rescind the Cole Memo. The Cole Memo was the memo which allowed states to implement their own cannabis laws without federal interference. By terminating this, he terminates the US policy that lets the legal pot flourish. Below is a collection of quotes on the topic from a range of cannabis experts in the industry.
October 2, 2018

$12B Up For Grabs As California And Canada Legalize Cannabis – The Green Rush Is On

Traditional investment banking and capital markets have been closed to cannabis companies, but with federal legalization in Canada, Nathaniel Gurien, CEO of FINCANN, predicts “a ‘gold-rush’ of access to capital and financing for cannabis enterprises, including “government partnership with private enterprise and banking.”
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