Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications. businesses.

Banking 45

Banking Safety Business History 45

The Blunt Truth

DECEMBER 26, 2019

Welcome to The Week in Weed’s look back at the news of 2019; whether the year has flown by or seemed to last forever, it’s (almost) over now. Without further ado, here’s a look at the stories that grabbed our attention in 2019. In February, we saw the first ever Congressional hearing on cannabis banking.

Banking 71

Banking Hemp Agriculture Seed-To-Sale 71

MassRoots

AUGUST 4, 2020

The California Cannabis Industry Association (CCIA) is calling for cannabis businesses to join them in imploring Speaker Pelosi to prioritize the Secure and Fair Enforcement Banking Act (SAFE Banking Act). What is the SAFE Banking Act? CCIA and The Liaison Group have been working tirelessly behind the scenes on SAFE Banking.

Banking 52

Banking Access Business Programs 52

The Blunt Truth

MARCH 28, 2019

Connecticut has voted a legalization bill out of a House committee; a bi-partisan group of Alabama legislators is sponsoring a medical cannabis bill and North Dakota is making progress on expanding its quite restrictive medical marijuana program. And in West Virginia , the governor has signed a medical marijuana banking bill.

Banking 87

Banking Recreational Legislation Retail 87

Cannabis Law Report

FEBRUARY 5, 2020

The “Roadmap to Cannabis Banking & Financial Services”, aims to increase the number of financial service providers in Colorado who serve the state’s legal marijuana and industrial hemp industries. 1595, the Secure and Fair Enforcement Act of 2019 (SAFE Banking Act). Roadmap to cannabis banking_January 2020. “As

Banking 69

Banking Safety Business Cannabis 69

NORML

JULY 3, 2019

NORML Announces Plans for 2019 Conference and Lobby Day. In order to register for Virginia’s medical cannabis program, patients must first receive a written certification from a registered physician. Below is a brief rundown of some of their most recent accomplishments. ” Read more from NORML.org and register today !

Patients 125

Patients Advocacy Dispensary Access 125

Canna Law Blog

DECEMBER 5, 2019

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

Banking 64

Banking Hemp Compliance Compliance 64

SpeedWeed

APRIL 20, 2021

Cannabis banking reform deposited another decisive victory in the U.S. In the last Congress, the lower chamber overwhelmingly passed a standalone version of SAFE Banking in 2019, and then House members passed the measure two more times as part of federal coronavirus relief bills in 2020. Helping motor more than $17.5

Banking 52

Banking Legislation Safety Access 52

Canna Law Blog

JANUARY 16, 2019

Since late December, we’ve had many clients come to us with frustrations about the ongoing lack of access post-Farm Bill, and questions about how things will play out in 2019. We represent a handful of banks (and a larger handful of credit unions), and we give those outfits advice on banking hemp and marijuana. Stay tuned.

Banking 72

Banking Hemp Environment Access 72

The Blunt Truth

DECEMBER 19, 2019

The big news on Capitol Hill this week was the Senate’s lack of action on the banking bill. Senator Mike Crapo (R-Idaho), the chairman of the Senate banking committee, opposes legalization and seemed disinclined to move on the issue. Protections for recreational programs were not.

Banking 61

Banking Agriculture Collective Legislation 61

SpeedWeed

MARCH 21, 2021

in 2020, there were 515 banks and 169 credit unions providing services to cannabis-related businesses at the end of last year, according to Financial Crimes Enforcement Network’s (FinCEN) quarterly cannabis banking update. But those banks are not the “national associations” of the world. Helping motor more than $17.5

Banking 52

Banking Compliance Compliance Business 52

Canna Law Blog

APRIL 6, 2019

Unfortunately still the position for most banks and hemp. Shortly after the 2018 Farm Bill passed, legalizing industrial hemp, we predicted that banking services for hemp businesses would be slow going. Although some of our hemp clients are banked (and even have crop insurance) many others are still underserved. Senators, Sen.

Banking 77

Banking Hemp Access Business 77

The Blunt Truth

JULY 25, 2019

On Tuesday, the Senate Banking Committee had a hearing on cannabanking. What the SAFE Act would do for banking, the CLAIM act would do for insurance. In Utah , growers have been chosen for their medicinal cannabis program. Let’s start with Congress, which had a very busy week. Jerry Nadler (D-NJ) and Sen.

Banking 77

Banking Pets Hemp Decriminalization 77

Cannabis Law Report

DECEMBER 30, 2019

Illinois and the US territory of Guam legalized adult-use cannabis and its retail sale, medical cannabis programs were enacted and expanded in several states, and 27 states considered legislation that would have legalized adult-use cannabis, a record-high. ” Director’s Statement. ” Justin Strekal, NORML Political Director.

Legislation 59

Legislation Patients Access Banking 59

Cannabis Law Report

SEPTEMBER 23, 2019

The Charles Gazette-Mail report… State Treasurer John Perdue is hiring an attorney to assist with his office’s handling of banking services for West Virginia’s medical cannabis program, a show of escalating tension with the district’s federal prosecutor. We have no idea what he basically would do in regard to [cannabis banking].

Programs 55

Programs Banking Business Law 55

Cannabis Law Report

OCTOBER 31, 2019

Law Firm Manatt, Phelps & Phillips, LLP writes… The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships. What happened.

Banking 45

Banking Compliance Compliance Policy 45

Cannabis Law Report

DECEMBER 23, 2019

Posted by Alexa Steinberg, Esq. | Dec 20, 2019 . Here’s a look back at 2019 and a projection of what’s to come in 2020 Cannabis Law. . March 2019 – Development of LA’s Phase 3 Retail License Application. . We saw no movement or resolve with this issue in 2019.

Law 59

Law Banking Hemp Retail 59

The Blunt Truth

DECEMBER 5, 2019

And in Wisconsin , Governor Tony Evers signed legislation making the state’s pilot hemp program permanent. In banking news, the Federal Reserve released guidance this week allowing banks to work with the hemp industry. Also, its rules now align with the 2018 farm bill. For our take on that correspondence, see here.

Chronic Pain 61

Chronic Pain Decriminalization Banking Hemp 61

SpeedWeed

FEBRUARY 22, 2021

Social equity programs are a relatively new phenomenon in the U.S. That makes it worthwhile for industry insiders and activists to examine how some of the programs have done – particularly as more states, and perhaps Congress, consider legalizing marijuana and incorporating social equity in some form. The Oakland and L.A.

Programs 52

Programs Retail Banking Business 52

Cannabis Law Report

SEPTEMBER 24, 2019

21 State Attorneys General Urge Congress Protect State Marijuana Programs From Federal Interference. AG Racine Leads Bipartisan Coalition of 21 States In Urging Congress To Pass Cannabis Banking Bill. September 23, 2019. 1028) or similar measures that would allow legal cannabis-related businesses to access the banking system.

Programs 59

Programs Banking Marijuana Access 59

The Blunt Truth

AUGUST 1, 2019

Meanwhile, the state of Arizona is experimenting with a new procedure to get around the lack of banking services for marijuana companies. The state’s attorney general has approved a pilot program allowing digital payments to medical cannabis dispensaries.

DEA 77

DEA Banking Dispensary Edibles 77

Cannabis Law Report

AUGUST 30, 2019

US Senator Mike Crapo (R-ID) , chairman of the Senate Committee on Banking, Housing and Urban Affairs, expressed interest in addressing banking issues facing cannabis businesses operating legally in their states. The SAFE Banking Act (H.R. The SAFE Banking Act (H.R.

Banking 45

Banking Research and Development Legislation Programs 45

Cannabis Law Report

FEBRUARY 4, 2019

Winter Edition 2019 – Cannabis. 2019 Legislative Session – Agency Proposed Legislation. On January 9, 2019 the Board approved a motion to make the effective date for all marijuana product, packaging and labeling requirements Jan 1, 2020. Have lost their bank. The bank has denied their application.

Topical 65

Topical Packaging Retail Legislation 65

The Blunt Truth

MAY 9, 2019

In the banking realm, 33 state attorneys general (along with AGs from four territories and the District of Columbia) have signed on to a letter to Congressional leaders in favor of cannabis banking reform. Also, 30 members of Congress have asked for more federal research into medical marijuana. Eight of the signatories are Republican.

Banking 61

Banking Legislation Conditions Marijuana 61

SpeedWeed

MARCH 7, 2021

In response, some companies have launched their own programs aimed at providing women and people of color with more opportunities to succeed in the space. These efforts range from mentorship programs spanning many months to multimillion-dollar funds that support nonprofits and community organizations. Mentorship Programs.

Programs 52

Programs Seed-To-Sale Cannabis Business 52

The Blunt Truth

MAY 30, 2019

As for medical marijuana, the Texas legislature has approved an expansion to the state’s program. From the “well, that’s unexpected” files, the governor of Utah took the federal government to task over its treatment of medical marijuana and banking specifically. “They ought to be ashamed,” he said.

Legislation 65

Legislation Recreational Banking Treatment 65

Canna Law Blog

MARCH 1, 2019

At this point, over a month into the 2019 session, a preponderance of legislators appear vaguely inclined to “let it ride” and drop the big ideas when it comes to cannabis. Let’s hope Oregon gets it right in 2019, so that cannabis consumers are treated like alcohol consumers, and patients have access to medicine without fear of job loss.

Legislation 63

Legislation Consumption Hemp Recreational 63

The Blunt Truth

FEBRUARY 14, 2019

Possibly the biggest news this week was the first ever Congressional hearing on cannabis banking. Colorado is looking at $6 billion in sales in 2018, and Oklahoma ‘s medical marijuana program saw over $4 million in January 2019. ” Kamala Harris (D-CA) has indicated that she is in favor of legalization.

Banking 40

Banking Decriminalization Consumption State Laws 40

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Guam became the first US territory to send a bill legalizing the adult-use of marijuana to the governor’s desk in 2019. Click here to email your lawmakers in support of compassionate care programs. CA resident?

Legislation 159

Legislation Decriminalization Hemp Patients 159

NORML

MARCH 20, 2020

That is why these businesses continue to face undue discrimination under federal law, including the lack of access to banking services and a prohibition of standard business tax deductions. Federal dollars are going to support state programs — not to dictate how they must use the money.

Business 330

Business Legislation Access Policy 330

Cannabis Law Report

JULY 31, 2019

Eleven states have allowed for legal adult and medicinal use of cannabis in a regulated program. Twenty-three states have a comprehensive medical marijuana program. With this federal classification, the cannabis industry is isolated from banking and, in many cases, reduced to a cash-only venture.

Banking 40

Banking Research and Development Safety Legislation 40

Cannabis Law Report

FEBRUARY 5, 2019

Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Party leaders are also laying the groundwork to vote on a marijuana banking bill soon, Marijuana Moment has learned. Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Study: Oregon Has 6.5 Years of Cannabis Oversupply.

Digestion 53

Digestion Banking Hemp Retail 53

Cannabis Law Report

JULY 4, 2019

Florida passed a law providing for an industrial hemp program. West Virginia ’s medical cannabis program will not be ready to launch by the original July 1 deadline. The American Bankers Association sent a letter asking federal financial regulators to issue guidance clarifying how banks can serve hemp and CBD businesses.

Research and Development 40

Research and Development Banking Hemp Legislation 40

The Blunt Truth

JANUARY 24, 2019

Regular readers will doubtless recall that Arkansas’ medical marijuana program was off to a sluggish start. Turning our attention to the Caribbean , Puerto Rico marijuana businesses are now without a banking option. Not chump change by anyone’s standards. Meanwhile, in the U.S.

Environment 40

Environment Banking Safety Dispensary 40

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. JD Supra Release. The Joint Statement.

Hemp 59

Hemp Business Banking Agriculture 59

Cannabis Law Report

NOVEMBER 22, 2019

Senate Banking Committee Chairman Mike Crapo (R-ID) said that an impeachment trial could delay consideration of cannabis financial services legislation, but no moreso than anything else that requires floor time. New Mexico’s medical cannabis program generated $93.6 South Dakota Gov.

Vaping 45

Vaping Research and Development Seed-To-Sale Hemp 45

The Blunt Truth

SEPTEMBER 10, 2019

Following last year’s passage of the 2018 Farm Bill, the National Credit Union Administration (NCUA) issued a regulatory update in August of 2019 to federally insured credit unions. Under the 2018 Farm Bill, this pilot program will be terminated one year after the issuance of final hemp regulations and guidelines from the USDA.

Hemp 78

Hemp Business Compliance Compliance 78