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  • The one banking bill Congress might actually pass next term
    Posted in In the News on December 3, 2018 | Preview rr
    Tags: Jobs & the Economy

    Conventional wisdom says that it’s going to be a tall order to pass banking legislation next term, but there just might be a key exception. One measure to watch will be a legislative fix for banks and credit unions serving the legal marijuana industry. While success is certainly not guaranteed, a narrow safe harbor for financial institutions in states where cannabis is now permitted is beginning to draw wide support from industry officials as well as from lawmakers on both sides of the aisle. As... Read more

  • Bankers' pot push gets boost from blue wave, Sessions ouster
    Posted in In the News on November 21, 2018 | Preview rr
    Tags: Jobs & the Economy

    Banks are bracing to play defense when Democrats take back the House next year, but there's one major issue on which the finance industry and liberals are likely to join forces: marijuana. Energized by the results of the midterm elections, an unusual alliance of lobbyists and lawmakers is planning to push legislation that would lift restrictions on banks seeking to serve pot businesses that are now legal in a growing number of states. In what could be a turning point, senior House Republicans wh... Read more

  • Pot Banking Prospects Grow With New House Leadership
    Posted in In the News on November 14, 2018 | Preview rr
    Tags: Jobs & the Economy

    A new balance of power in Washington may provide answers for banks looking to serve marijuana businesses. Democratic control of the House has raised hopes that either a limited bill providing a safe harbor for banks to serve marijuana businesses or even a broader bill to remove pot from the list of controlled substances could, for the first time, make significant steps toward President Donald Trump’s desk. “That could be a real turning point real quickly in terms of this issue,” Joseph Lynyak, a... Read more

  • Improving CFPB Compliance Through Better Guidance
    Posted in In the News on November 2, 2018 | Preview rr
    Tags: Jobs & the Economy

    Following the Great Recession, the United States has undergone a dramatic change in consumer behavior with the rise of the renter. According to a 2017 Pew Research Center study, more people are renting today than at any time in the last 50 years. The increase in households renting coincides with an almost 5 percent drop in the rate of homeownership since 2006. That drop has been felt the hardest in the West, where the homeownership rate stands just under 60 percent, according to the U.S. Census ... Read more

  • Survey: Outdoors fund benefits all businesses
    Posted in In the News on September 7, 2018 | Preview rr
    Tags: Energy/Environment, Jobs & the Economy

    The preponderance of business owners in Colorado and three other western states believe the federal Land and Water Conservation Fund has been beneficial to their bottom lines, according to a recent survey. A poll of more than 800 mostly small-business owners in Colorado, New Mexico, Nevada and Montana showed that the public lands that exist within those states, and the federal fund that helps secure more open lands, is not only good for the outdoor industry, but all others as well. The survey, ... Read more

  • Legal Marijuana: The $9 Billion Industry That Most Banks Won't Touch
    Posted in In the News on September 6, 2018 | Preview rr
    Tags: Jobs & the Economy

    Imagine an industry with $9 billion in sales — equivalent to the entire snack market — where only 30% of businesses had a bank account. That’s the situation we face today in the legal marijuana business. Hardworking commercial operators are struggling to find banks that will work with them, forcing these entrepreneurs to conduct most business with cash. Serious security concerns and a lack of funding to scale these businesses are just two of the unfortunate outcomes. While medical marijuana is l... Read more

  • 1,000 call center jobs lost in Colorado Springs while companies expand overseas
    Posted in In the News on September 3, 2018 | Preview rr
    Tags: Jobs & the Economy

    Five call centers in Colorado Springs have either closed their doors or laid off employees since Dec. 31, resulting in the loss of 1,000 local jobs while the companies that operate those centers expand operations in low-wage countries. Centers operated in the Springs by Alorica and StarTek closed Dec. 31 and March 31, respectively, laying off all 547 employees. Conduent will close its center Oct. 12 and lay off all 410 employees. All three centers worked with multiple clients in multiple indust... Read more

  • Alarm from Colorado's congressional Democrats over Trump admin. gathering negative marijuana data
    Posted in In the News on August 30, 2018 | Preview rr
    Tags: Jobs & the Economy

    DENVER – U.S. Sen. Michael Bennet on Thursday sent a scathing letter to the White House’s Office of National Drug Control Policy urging the administration to reconsider its quest to gather negative data about legal marijuana programs, like the one in Colorado. The letter comes a day after BuzzFeed News reported that the White House and the Office of National Drug Control Policy had created the “Marijuana Policy Coordination Committee,” which has asked more than a dozen federal agencies and the D... Read more

  • Inside the first cannabis banking conference
    Posted in In the News on August 10, 2018 | Preview rr
    Tags: Jobs & the Economy

    Downtown Denver was the scene of the Colorado Bankers Association's first ever national cannabis banking conference, which kicked off Thursday with nearly 200 attendees. The two-day event, called "Marijuana and Banking: Conflict of Laws, Banks Caught in the Middle," featured presentations by government heavyweights like Gov. John Hickenlooper, Rep. Ed Perlmutter and U.S. Attorney Bob Troyer, as well as a slew of industry insiders from the FDIC, Federal Reserve Bank, private insurance companies ... Read more

  • Perlmutter, Pearce Introduce Bill to Update FinCEN, Ensure Focus on Virtual Currencies
    Posted in Press Releases on July 18, 2018 | Preview rr
    Tags: Jobs & the Economy

    Washington, D.C. – Today U.S. Reps. Ed Perlmutter (D-CO) and Steve Pearce (R-NM) introduced a bipartisan bill to empower the Financial Crimes Enforcement Network and ensure the law enforcement community has the tools and abilities needed to prevent terrorism and illicit finance. The FinCEN Improvement Act (H.R. 6411) would update the Financial Crimes Enforcement Network (FinCEN) authorizing statute to recognize tribal law enforcement agencies, prioritize protection against all types of terrorism... Read more

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