NORML

JULY 23, 2019

Earlier today, the Senate Banking Committee held a hearing on the SAFE Banking Act, which would allow financial institutions to engage in activities with state-legal cannabis businesses. The hearing was entitled, “Challenges for Cannabis and Banking: Outside Perspectives.”

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Banking Legislation Access Policy 154

NORML

MARCH 19, 2019

In the first in what are anticipated to be multiple Congressional hearings to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. With 97.7% of the U.S. Thirty-three states, Washington, D.C.

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Banking Marijuana Safety Policy 226

Cannabis Life Network

SEPTEMBER 28, 2023

The SAFER Banking Act has passed a critical Senate Committee hearing with a vote of 14-9. The renamed bipartisan bill would allow banks to work with cannabis businesses without penalties from the federal government. cannabis industry has long been waiting for SAFER Banking to pass the Senate.

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Dykema (Cannabis Law Blog)

SEPTEMBER 21, 2023

While most cannabis businesses have access to traditional business checking account services, they generally lack access to the full suite of financial products and services that financial institutions offer to all other businesses, such as business loans, lines of credit, commercial mortgages, etc.

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Cannabis Life Network

FEBRUARY 14, 2023

The cannabis industry is suing Canadian banks. Canada’s legal cannabis industry has launched a class-action lawsuit against Canada’s large cartel of banks. They allege the banks have discriminated against them by arbitrarily closing accounts and denying services and access to credit.

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NORML

FEBRUARY 14, 2019

The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. You can share the op-ed on Facebook by clicking here and on Twitter by clicking here.

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Cannabis Law Report

AUGUST 30, 2021

Dispensaries and other marijuana industry companies continue to have difficult time getting cannabis banking services. Senate, at least for the moment, some lawmakers are turning their attention to dealing with weed-related banking issues. Why Marijuana Banking Changes Are Needed. It’s something he’s pushed for since 2013.

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Banking Legalization Dispensary Legislation 99

NORML

FEBRUARY 13, 2019

Imagine operating a business without a bank account. Imagine being forbidden from letting your customers pay for purchases with a credit card, or being able to ask a bank for a small business loan. No industry can operate safely, transparently, or effectively without access to reliable banking solutions.

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NORML

MARCH 8, 2019

A bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595 , to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. This situation is untenable.

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Canna Law Blog

SEPTEMBER 18, 2023

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 Access Business Compliance 82

Leafly

JUNE 27, 2022

The new CLIMB Act would help cannabis businesses access banking services, and list on the stock exchange. The post Meet the CLIMB Act, a new bipartisan cannabis banking bill appeared first on Leafly. It emphasizes small, minority-owned businesses.

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Cannabis Law Report

AUGUST 20, 2022

CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Ohio State Legal Studies Research Paper No. Ohio State Legal Studies Research Paper No. 21 Pages Posted: 12 Aug 2022. Cat Packer.

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Banking Access Research and Development Policy 52

NORML

MAY 12, 2020

Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Members of the House of Representatives voted 321 to 103 in favor of the Act in September.

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Veriheal

APRIL 14, 2022

Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. A Long Road to Cannabis Banking Reform. Ed Perlmutter (D-Colo.)

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Banking Business Cannabis Access 116

NORML

OCTOBER 15, 2019

NORML Canada launches official Post-Legalization platform to focus advocacy efforts on reforming Canada’s legal Cannabis system. 1) Increased Access. 1) Increased Access. 2) Transitioning “Unregulated Market” into the legal framework. 4) US relations – border & banking.

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Canna Law Blog

DECEMBER 9, 2021

The hopes for better and increased marijuana banking, which were tied up in the Secure and Fair Enforcement ( SAFE ) Banking Act (a serious and common sense federal marijuana banking bill), are currently dashed since the SAFE Banking Act has been left out of the Senate’s changes to the National Defense Authorization Act (“ NDAA “).

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Canna Law Blog

DECEMBER 6, 2022

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

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Banking Compliance Compliance State Laws 80

Veriheal

DECEMBER 1, 2022

Historically, it has been difficult for cannabis-related businesses to access reliable financial services due to its illegal federal status. CRO Financial Services: The SAFE Banking Act. The SAFE Banking Act was introduced in 2019 and has passed the House seven times, but it still needs to make it to the Senate floor.

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Canna Law Blog

MAY 13, 2022

The SAFE Banking Act has languished in Congress since early 2017, a victim of political gridlock and division, as well as political wrangling over broad approaches to cannabis legalization. We last covered the SAFE Banking Act in February , when it looked as though 2022 would be the sixth year in which this bill would die.

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Canna Law Blog

DECEMBER 1, 2022

As we’ve written about over the past several years, there have been consistent rallying cries for common-sense banking reform for the cannabis industry. The SAFE Banking Act, which would allow federally regulated financial institutions to work with state-legal cannabis businesses, has been passed by the U.S.

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Banking Safety Access Legislation 72

MJ Business Attorneys

JANUARY 6, 2023

Although legal cannabis markets exist at some level in the majority of states in the country today, they fight to survive amidst a web of restrictive and confusing regulations that make it difficult for businesses to operate in the black. Most legal-use states have strict security and monitoring regulations.

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MassRoots

JULY 30, 2020

In addition to the dramatic cuts to the weekly enhancements of state unemployment benefits and safety net programs proposed in the House’s version (The HEROES Act), the Senate’s package does not include language that would protect banks who service the legal cannabis industry. SAFE Banking Act. Criticism From Senate Republicans.

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Banking Legislation Marijuana Packaging 116

Canna Law Blog

AUGUST 17, 2023

Oregon’s governor recently vetoed an effort to create a state bank for marijuana businesses, in another blow to the struggling industry. The lack of consistent, equitable access to banking has been recurring issue for Oregon marijuana businesses and those in other states.

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Banking Marijuana Legislation Business 52

Canna Law Blog

MARCH 13, 2023

The Safe Banking Act , also known as the Secure and Fair Enforcement Banking Act (SAFE Banking Act), is sorely needed legislation to address the critical issue of financial services being denied to marijuana businesses that operate in the state-legalized industries. What is the SAFE Banking Act?

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Banking Business Safety Legislation 81

Canna Law Blog

FEBRUARY 3, 2022

The year 2021 was an emotional roller coaster for marijuana banking. It culminated in the death of the Secure and Fair Enforcement ( SAFE ) Banking Act in the Senate, when it didn’t make it into the National Defense Authorization Act (“NDAA”). In the end, it’s highly likely that SAFE Banking will die again.

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Banking Supply Chain Legislation Access 83

WeedAdvisor

FEBRUARY 20, 2019

Banks Pushing for Access to Legal Marijuana Industry. In yet another unprecedented leap forward, United States banks are asking Congress to protect them from federal prosecution over dealing with legal marijuana businesses, according to U.S. This creates a problem for banks. do not have.

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Banking Access Legalization Marijuana 40

Cannabis Law Report

JUNE 4, 2021

These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank. What are some of the issues that impact an MSO’s ability to access banking? Why MSOs face unique banking challenges.

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Banking Supply Chain Dispensary Business 87

Cannabis Chronicles

MAY 8, 2019

banking system to the legal marijuana industry. Most Americans live in states where marijuana is legally available in some form. But most banks don’t want anything to do with money from the cannabis industry for fear it could expose them to legal trouble from the federal government, which still considers marijuana illegal.

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SpeedWeed

MARCH 20, 2021

The US House just reintroduced the Secure and Fair Enforcement ( SAFE ) Banking Act, an act that if passed, would help the cannabis industry have access to financial services. Because cannabis is still federally illegal, cannabis businesses have difficulty accessing banking , credit card processing, and business deductions for taxes.

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Banking Legalization Safety Access 52

Veriheal

MARCH 25, 2022

Cresco Labs made a huge acquisition, Denver is within reach of opening its first consumption club, and cannabis executives rallied to push for industry banking protections. With the deal, Cresco Labs gains access to Columbia Care’s immense multi-state retail network. Cannabis Industry Makes Final Push for SAFE Banking.

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Cannabis Life Network

SEPTEMBER 26, 2019

House of Representatives passed a bill Wednesday that would grant legal marijuana/pot businesses access to banking, a measure that would clear up a longstanding headache for the industry. The bill, called the SAFE Banking Act, passed 321-103 on the strength of near-unanimous support from Democrats and nearly half of Republicans.

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Veriheal

DECEMBER 22, 2023

Additionally, these past proposals also pushed for equal access to the economic opportunities arising from the legal cannabis market. They emphasize that these communities should have an active role in reaping the economic advantages that come with legalization.

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PrestoDoctor

AUGUST 1, 2022

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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Banking Law Marijuana Compliance 52

Veriheal

OCTOBER 30, 2023

In 2018, the leaders of 19 Caribbean nations decided that they would “review marijuana’s current status with a view to reclassification” The leaders emphasized the importance of these cannabis legalization bills as a tool for social justice and economic gain. Recently, The Bahamas’ made good on that 2018 promise.

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Veriheal

DECEMBER 1, 2021

A group of associations representing American credit unions recently submitted a letter to Congress urging members to pass critical cannabis banking reform legislation. Because of cannabis’ status as a Schedule I—aka federally illegal—substance, many banks and credit unions avoid hosting accounts for cannabis-related businesses.

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Banking Decriminalization Business Legislation 67

Cannabis Law Report

JULY 1, 2021

Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Compare 5 cannabis-friendly banks and credit unions.

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Banking Compliance Compliance Business 110

Cannabis Law Report

MAY 2, 2023

Senator Bob Menendez, a senior member of the Senate Banking Committee and Chairman of the Subcommittee that oversees the insurance industry, today announced the reintroduction of the bipartisan Clarifying Law Around Insurance of Marijuana (CLAIM) Act, which would ensure legal marijuana and related businesses have access to comprehensive and affordable (..)

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