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Banking for Cannabis Growers

Canna Law Blog

Though many business owners may find banking to be a headache regardless of industry, few business owners have more hurdles to deal with than cannabis growers and dispensaries. The current state of cannabis banking can have a significant impact on where cannabis business owners keep their money and whether they obtain cannabis loans.

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IRS could collect taxes from cannabis firms if they used big banks, Yellen says

Cannabis Law Report

Treasury Secretary Janet Yellen said she supports allowing legal cannabis dispensaries to access the US banking system — where they’re now largely barred — to make it easier for the government to collect tax revenue. Yes, of course it would,” the Treasury secretary replied.

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Dispensary Spotlight: Maribis of Chicago Westchester

Illinois News Joint

For a live menu, click here , or check our Dispensary Directory for more information about Maribis of Chicago Westchester. Maribis is an independent and female-owned cannabis company with dispensaries located in northern and central Illinois. For more Dispensary Spotlight Features, visit here. Westchesterr Ave.

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Dispensary Spotlight: Maribis of Springfield Grand

Illinois News Joint

For a live menu, click here , or check our Dispensary Directory for more information about the retail store. For more Dispensary Spotlight Features, visit here. Maribis is an independent and female-owned cannabis company with dispensaries located in northern and central Illinois. East, Grandview, Illinois.

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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 Department of Justice on “Marijuana Related Financial Crimes” was rescinded in 2018 , the FinCen Memo has been the only game in town for federal banking guidance.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. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

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Cannabis and banking vets launch credit card for dispensaries

Cannabis Law Report

Since the United States classifies cannabis as a Title IV drug, the banking industry is unwilling and unable to provide services to cannabis operations. That leaves dispensaries managing and protecting massive sums of cash, and the stores cannot offer a modern retail payment system to the consumer. SuperNet has a solution.

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Is 2021 The Year Of Meaningful Cannabis Banking Reform?

Cannabis Law Report

With Democrats in control of the White House and Congress (at least until the 2022 midterm election), the question remains as to whether this is the year that the federal government enacts meaningful cannabis banking reform. As a refresher, in March 2019, the Secure and Fair Enforcement (SAFE) Banking Act, or H.R.

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