Massachusetts Credit Union Lighthouse Biz Solutions Receives Certification for Cannabis and Hemp Banking Protocols
BOSTON — The Policy Center for Public Health & Safety (PH&S) today announced that Massachusetts-based Lighthouse Biz Solutions, a wholly owned subsidiary of GFA Federal Credit Union, is the first east coast financial institution to become certified for outstanding U.S. monetary banking protocols in banking cannabis and hemp operations. The honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general and endorsed by Safe Harbor Financial. “The marijuana industry continues to expand in Massachusetts, and it is important to have banking safeguards to mitigate illicit and criminal conduct. This is an important first step in partnering with legally compliant businesses in the marketplace,” said Karl Racine, former Attorney General of the District of Columbia, and current Board member of Safe Harbor Financial. The PH&S certification brings banking...