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How Important is the SAFE Banking Act, Anyway?

Canna Law Blog

I’m pretty sure that more ink has been spilled on the Secure and Fair Enforcement Act (“SAFE Banking”), than any other proposed cannabis law. Specifically, SAFE Banking was introduced in 2017 and it passed the House seven times (seven times!) SAFE Banking will finally go to mark-up this week in the Senate Banking Committee.

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Banking for Marijuana Businesses on the Rise

Garvey Schubert Barer - Cannabis Business

The Financial Crimes Enforcement Network (“FinCen”) issued a Marijuana Related Business update in June with data from the first quarter of 2017. FinCen reports that the number of depository institutions that are actively banking marijuana businesses increased to 368 by the end of March of 2017.

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Abrigo Partners with Green Check Verified for End-to-End Support for Cannabis Banking

Cannabis Law Report

Abrigo, the leader of compliance, credit risk, and lending solutions for financial institutions, today announced its partnership with Green Check Verified (GCV), the top provider of cannabis banking solutions for financial institutions. Abrigo partners with Green Check Verified to expand cannabis banking support to financial institutions.

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The State of Cannabis Banking at a Pivotal Moment in the Industry: Q&A with Safe Harbor Services’ Amanda McComb

SpeedWeed

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

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MJ Biz Publish Their 2021 Edition: Women and Minorities in the Cannabis Industry

Cannabis Law Report

Also missing: hard data about it. First published in 2017, and updated in 2019, the new 2021 Women & Minorities in the Cannabis Industry , is now available for download here. Challenges to Diversity and Equity (includes data application and licensing fees, start up costs, net worth by race, banking, drug related arrests, etc).

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Sol Global Chairman Andy Defrancesco sued for Defamation by Cannabis Research Firm: $SOLCF

Cannabis Law Report

In the fall of 2018, New Frontier Data, which is run by Giadha Aquirre De Carcer, broke off a business partnership with another data research firm, Prohibition Partners, after a disagreement on the quality of data used in a research report detailing the investment opportunities in the Australian cannabis market. We have answers!

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Dama Financial to Acquire GrowFlow

Cannabis Law Report

20, 2022 /PRNewswire/ — Dama Financial (“Dama”), the nation’s largest provider of access to banking and payment solutions for the cannabis industry, has entered into an agreement to acquire GrowFlow Corp. (“GrowFlow”), whose business management and compliance tools have processed more than $3.3