Banking Florida Medical Marijuana Businesses

In the current low-interest-rate environment, banks are actively exploring new sources of revenue to augment deposit and non-interest revenue. One potential source of new revenue for Florida banks is..…

Continue reading on Florida Bankers Association


State Legalized Marijuana – Opportunities for Credit Unions

One new market that has emerged in recent years is state-legalized marijuana, which has created opportunities for credit unions willing to service marijuana-related businesses (MRBs)..…

Continue reading on NACUSO.org


Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 5

This is the fifth in a series of articles covering the generation of non-interest income in cash intensive businesses with an emphasis on Marijuana Related Businesses (MRB’s). This article will be a continuation of implementation and operations..…

Continue reading on CUInsight.com


Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 4

Regulators are now seeing a greater importance in involving technology from the initial planning stage, and not as an afterthought once problems start emerging. Although we can apply our services at Hypur to clean up problems, we would prefer have those regulatory problem situations never occur. Keep in mind that the banking of cash-intensive businesses may be very profitable, but you must devote the proper human, financial, and technology resources in order to maintain the compliance necessary to protect this revenue stream.…

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A Solution for Banking Cash-Intensive Businesses: Lose the Cash

If anyone can figure out how banks can serve marijuana and other cash-intensive businesses and stay out of trouble, it should be John Vardaman. Until recently, Vardaman was an assistant deputy chief for policy in the asset forfeiture and money laundering division of the Department of Justice…

Continue reading on AmericanBanker.com


Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 3

This is the third in a series of articles covering the generation of non-interest income in cash intensive businesses with an emphasis on Marijuana Related Businesses (MRB’s). The first article discussed evaluating if entering this vertical is appropriate for your specific institution. The second article focused on the regulatory guidance that surrounds providing financial services to MRB’s. This installment will discuss establishing appropriate policies and procedures within the institution surrounding the banking of MRB’s…

Continue reading on CBInsight.com and CUInsight.com


Hypur Welcomes Former Department of Justice Member to Executive Team

First at the Department of the Treasury and then at the Department of Justice, John played an instrumental part in devising federal policy for enforcing Bank Secrecy Act (BSA) and anti-money laundering (AML) laws. Notably, John was actively involved in drafting DOJ guidance regarding financial crimes related to state legalization of marijuana, one of the few policies on the enforcement of federal law with respect to marijuana-related businesses. John was also instrumental in devising DOJ policy regarding the enforcement of laws governing the structuring of financial transactions…

Continue reading on Medium.com and LinkedIn Pulse


Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 2

This is the second in a series of articles on generating non-interest revenue from cash intensive businesses with an emphasis on legal Marijuana Related Businesses (MRB’s). In the first article, I discussed evaluating if this vertical is appropriate for your specific institution. This installment focuses on the regulatory guidance related to providing financial services to MRB’s…

Continue reading on CUInsight.com and CBInsight.com


Start-up Steps in for Wary Banks

Hypur, a two-year-old company based in Arizona, has built software for banks that uses GPS to geo-locate each purchase and prove it was done in an authorized merchant location…

Continue reading on NYTimes.com


Banking for Cannabis Companies Is About to Get Easier Thanks to This Startup

Only 30 percent of companies in the marijuana industry have a bank account. As the industry makes billions of dollars in sales, a small startup out of Arizona is here to help make sure all that cash has a safe home…

Continue reading on Inc.com


Technology Eases Banking Pain

A software platform, called Hypur, was being developed as a compliance tool to assist cash-intensive businesses. Its original intent was to service payday lenders and check cashing businesses…

Continue reading on CUTimes.com


Legal MRB Banking Fight Continues

For institutions that service cash-intensive businesses, it allows for the tracking of cash, documents and applications through an automated process…

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Generating Profit & Revenue in Emerging Cash-intensive Businesses – Part 1

Financial institutions for years have been seeking ways to supplement traditional revenue by increasing their profits through non-interest income. More challenging verticals such as cash intensive businesses are becoming more attractive as profitable clients. When discussing the various sub categories of cash intensive businesses (check cashers, payday lenders, MSB’s, etc.), the emerging vertical obtaining the most attention is that of state legal Marijuana Related Businesses (MRB’s)…

Continue reading on CBInsight.com and CUInsight.com


Cannabis and Credit Unions

A conservative legal view says “don’t go there” when it comes to working with marijuana-related businesses. Those who hold this view say the U.S. government could prosecute any CU serving marijuana-related businesses—often called MRBs—at any time, even though certain states allow the legal sale of marijuana…

Continue reading on CUES.org or here