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Cannabis Banking Today

Canna Law Blog

We are helping build out another cannabis banking program here in Oregon. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

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Cannabis Banking: All Businesses are Marijuana Related Businesses

Canna Law Blog

Guidance on banking and MRBs. Department of Justice on “Marijuana Related Financial Crimes” was rescinded in 2018 , the FinCen Memo has been the only game in town for federal banking guidance. But banks don’t really use that. I believe this system was first expounded in 2016 by Steve Kemmerling of CRB Monitor.

Banking 98
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Pennsylvania’s Marijuana Banking and Insurance Bill Is Signed Into Law

PrestoDoctor

Marijuana banking options are limited for many entrepreneurs despite the fact that several thirty-six states legalize medical marijuana use. Thanks to a recent cannabis banking bill that has passed in Pennsylvania, cannabis-related businesses now have the right to use financial institutions and insurance for their businesses.

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Louisiana Expands State Medical Marijuana Program

MassRoots

The state’s medical marijuana program has been criticized for being too limited and too restrictive since the program was established in 2016, but the three laws that went into effect on Saturday aim to improve the situation. Home cultivation remains illegal for the more than 4,000 registered medical marijuana patients. House Bill 819.

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Understanding Medical Marijuana Laws in California

MMJ Recs

This landmark legislation legalized the use and cultivation of cannabis for medical purposes by patients with a valid recommendation from a physician. Together, these laws provide a comprehensive regulatory framework that governs the cultivation, distribution, and use of both medical and recreational cannabis.

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Weekly Cannabis Roundup February 26

Veriheal

James Patterson, the former CEO of the cannabis delivery platform Eaze has admitted guilt in a conspiracy to commit bank fraud. The former CEO of Eaze has pled guilty to bank fraud. Between 2016-2019, over $100 million dollars worth of payments were disguised to avoid the many banking restrictions placed on the cannabis industry.

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Pennsylvania’s Medical Cannabis Legislation Was Recently Amended

Veriheal

HB 1024 follows up on recommendations that were put forward by the Department of Health to amend the Medical Marijuana Act, which was signed by the Governor in April 2016. They make a good point, considering the fact that the legislation invites hemp cultivators to participate in the state’s supply chain.