Cannabis Life Network

APRIL 6, 2020

TORONTO — Devastated bars and lounges, as well as the country’s hard-hit cannabis sector, will finally have access to $40 billion in new credit being made available via the government’s business bank during the COVID-19 crisis, its CEO said on Sunday.

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Cannabis Law Report

AUGUST 5, 2021

Here’s the press release… National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors.

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Banking Compliance Compliance Law 111

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

Cannabis Law Report

SEPTEMBER 28, 2021

National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors. Says the headline.

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NORML

MARCH 20, 2020

There is no doubt that the COVID-19 pandemic is adversely impacting businesses around the world, and smaller businesses especially. 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.

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Veriheal

JULY 2, 2020

Louisiana has had a medical cannabis program for many years. In late May, Louisiana lawmakers discussed a bill that would significantly expand the state’s medical cannabis program and offer access to thousands of more patients in the state that may benefit from cannabinoid therapies. The Bill as Passed.

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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.”. Cannabis Program Manager, City of Portland, Oregon; Chair, Cannabis Regulators of Color Coalition; and Adjunct Professor, LIM College.

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Banking Access Research and Development Policy 52

MassRoots

JULY 28, 2020

One of the most important pieces of cannabis related legislation, the Secure and Fair Enforcement Banking Act ( SAFE Banking Act ), has the chance to be included in the next round of COVID-19 relief legislation in the United States. Tell them to support the inclusion of the SAFE Banking Act. Don’t wait. This is not right.

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Banking Legislation Business Programs 66

Cannabis Law Report

SEPTEMBER 30, 2021

–(BUSINESS WIRE)– #cannabisbanking –NatureTrak, the leading compliance and risk management solution for financial institutions serving the cannabis industry, today announces its newest customer, Southwest Capital Bank. SACRAMENTO, Calif.–(BUSINESS

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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? What is the SAFE Banking Act?

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Cannabis Law Report

OCTOBER 28, 2021

New mobile wallet app is the solution cannabis businesses have been waiting for. Wayne-based Valley National Bank, a subsidiary of Valley National Bancorp, is creating a new digital payment platform designed specifically for cannabis-related businesses. NJB News reports. ON OCT 27, 2021.

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Banking Compliance Compliance Programs 52

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.

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Banking Hemp Compliance Compliance 64

Canna Law Blog

APRIL 9, 2020

On March 31, 2020, Washington State Governor Jay Inslee signed HB 2870 , which “creates a new social equity program that provides business opportunities to people from disproportionately-harmed communities so they can benefit economically from the cannabis industry and become a cannabis retailer.”

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Cannabis Law Report

FEBRUARY 5, 2020

ARVADA – Governor Jared Polis and the Colorado Department of Regulatory Agencies (DORA) released a bold roadmap to provide clarity and guidance for state-chartered financial services industries that serve or seek to serve legal cannabis-related businesses. Roadmap to cannabis banking_January 2020. “As

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Banking Safety Business Cannabis 69

Cannabis Law Report

OCTOBER 26, 2021

New mobile wallet app is the solution cannabis businesses have been waiting for. NEW YORK–(BUSINESS WIRE)– Valley National Bank , a subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today that it is creating a new digital payment platform designed specifically for cannabis-related businesses.

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Banking Business Programs Compliance 52

SpeedWeed

MARCH 18, 2021

A Michigan credit union just got penalized for working with cannabis businesses, despite the fact that this is a gray area for financial institutions. . Cannabis and Banking. banks and credit unions are reluctant to work with cannabis businesses because of concerns surrounding the federal illegality of cannabis.

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MJ Business Attorneys

FEBRUARY 26, 2019

The Denver City Council voted 10-1 in favor of lifting the 2020 sunset date on social use cannabis businesses. While it is legal to buy and consume cannabis is Colorado, there are only two businesses in Denver that will allow you to vape or consume edibles on the premises. The reason?

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Cannabis Law Report

SEPTEMBER 14, 2021

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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Canna Law Blog

JULY 11, 2020

On Wednesday, July 8, 2020, a bipartisan group of sixteen state treasurers, led by Oregon Treasurer Tobias Read, sent a letter to congressional leaders requesting that the next piece of COVID-19 relief legislation include the SAFE Banking Act.

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Banking Legislation Safety Business 61

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. Legal hemp businesses should be treated just like any other businesses and not discriminated against,” the letters urged.

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Banking Hemp Access Business 77

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.

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Banking Compliance Compliance Policy 45

The Blunt Truth

SEPTEMBER 10, 2019

Citing growth in hemp-related commerce, the NCUA emphasized the need for credit unions to understand the gamut of regulation across jurisdictions in order to lend lawfully to hemp-related businesses. Last , when deciding whether to serve hemp-related businesses, credit unions also need to consider other applicable federal and state laws.

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Hemp Business Compliance Compliance 78

Canna Law Blog

JANUARY 16, 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. A few of these clients are relatively nimble and bold, but at the end of the day they are still banks. We are optimistic that the hemp industry will have ample banking options.

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Cannabis Law Report

JUNE 28, 2022

DENVER – June 23, 2022 – Denver Economic Development & Opportunity (DEDO) has launched a targeted entrepreneurial assistance program for aspiring cannabis business owners that is specifically designed to boost ownership among individuals disproportionately impacted by marijuana prohibition and enforcement.

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Programs Access Business Banking 52

SpeedWeed

APRIL 2, 2021

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. Much of the work falls to the cannabis business, of course. We also started a national [cannabis] program back in 2017.

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Banking Compliance Compliance Business 52

The Blunt Truth

SEPTEMBER 29, 2023

The big news this week is that, for the first time ever, a cannabis bill, the SAFER Banking Act, got a markup in the Senate. SAFER BANKING Although the SAFE Banking Act has passed multiple times in the House of Representatives, it’s never gotten out of committee in the Senate. Spoiler alert: the two don’t mix.

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Banking DEA Legislation Decriminalization 93

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. This 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. . ALBUQUERQUE, N.M. , Dec. Department of Treasury and FinCEN.

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Banking Hemp Compliance Compliance 52

Cannabis Law Report

DECEMBER 1, 2021

Since the United States classifies cannabis as a Title IV drug, the banking industry is unwilling and unable to provide services to cannabis operations. There’s even a loyalty program. Cash management is often regarded as one of the most expensive parts of operating cannabis businesses. CEO Tsang explained.

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Cannabis Law Report

NOVEMBER 23, 2021

Alliance offers cannabis-related businesses and financial institutions a safer way to process transactions while creating new revenue opportunities. Electronic payment solutions give financial institutions the ability to create new non-interest income revenue streams as part of their cannabis banking programs. About POSaBIT.

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Compliance Compliance Banking Seed-To-Sale 52

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account. . PUBLISHER: CANNABIS LAW REPORT. THC when it is harvested and tested? .

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Banking Hemp Business Agriculture 45

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. state and federal regulation of marijuana.

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Hemp Business Banking Agriculture 59

The Blunt Truth

DECEMBER 9, 2021

It looks like marijuana banking will not be part of the NDAA. Federal assistance with state expungement programs might be on the table. marijuana banking. Advocates of allowing the banking industry to serve cannabis businesses have seen many opportunities to enact legislation come and go. federal expungement.

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Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

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Cannabis Law Report

JUNE 16, 2019

On May 13th New Jersey’s Department of Health (“DOH”) amended it Medicinal Marijuana Program Rules, N.J.A.C. Phil Murphy’s Executive Order #6 tasking the DOH with reviewing all Medicinal Marijuana Program (“Program”) aspects to expand access and eliminate bureaucratic barriers. 24:6I-1, Et.

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SpeedWeed

MARCH 9, 2021

and becoming legal, regulated, and accepted in more states, one thing the cannabis industry struggles with is having access to services that most businesses have access to, including banking and insurance. AAIS is the industry leader in the development and maintenance of commercial lines, inland marine, and business owners’ programs.”.

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Canna Law Blog

NOVEMBER 8, 2023

Our firm has been representing businesses in the space for many years before that, in states with more mature licensing programs. One of the most common mistakes we see in new cannabis markets is businesses that rely too much on federal legalization happening. Banks won’t be forced to work with cannabis companies.

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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. AG Racine Leads Bipartisan Coalition of 21 States In Urging Congress To Pass Cannabis Banking Bill. September 23, 2019.

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