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. Furthermore, a total of 33 states have enacted policies to establish a regulated medical cannabis program.

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Banking Business Marijuana Policy 211

Canna Law Blog

NOVEMBER 16, 2023

We are helping build out another cannabis banking program here in Oregon. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking. These are the highest risk businesses for banks and constitute the majority of suspicious activity report (“SAR”) filings.

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Banking Business Cannabis Hemp 80

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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Banking Access Business Safety 179

NORML

APRIL 12, 2023

Highlights include: AR, CA, CO, ME, MD, MO, NH, PA, SC, and TX The post State Policy Weekly Update 4/12/2023 appeared first on NORML.

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Policy Access Consumption Banking 191

Cannabis Law Report

AUGUST 17, 2022

Ohio State Legal Studies Research Paper No. Drug Enforcement and Policy Center, August, 2022. According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans.

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Banking Access Research and Development Compliance 98

Cannabis Life Network

DECEMBER 7, 2022

United States Congress has declined to include cannabis banking in the NDAA (National Defense Authorization Act). The NDAA is an annual congressional bill guiding policies and funding of federal military agencies. The post Cannabis Banking Left out of NDAA appeared first on Cannabis | Weed | Marijuana | News.

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Banking Policy Cannabis Marijuana 81

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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Banking Marijuana Topical Access 170

Dykema (Cannabis Law Blog)

DECEMBER 21, 2023

The SAFE Banking Act is a bill that aims to protect banks that serve legal cannabis businesses from federal penalties. The Senate Banking Committee, by a notable bipartisan majority of 14-9, on September 27, passed their version of the bill (The SAFER Act) out of committee. That was, until this year.

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Banking Legislation Policy Business 59

NORML

APRIL 26, 2021

Just one week ago, the SAFE Banking Act passed once again in the U.S. Perlmutter: Let’s Make Legal Cannabis Work Better appeared first on NORML. House of Representatives with overwhelming, bipartisan support by a vote of 321 to 101, with every Democrat and the majority of Republicans voting in support. The post Rep.

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Legalization Banking Legislation Cannabis 246

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. Drug Enforcement and Policy Center, August, 2022. Ohio State Legal Studies Research Paper No.

Banking 52

Banking Access Research and Development Policy 52

Canna Law Blog

FEBRUARY 28, 2022

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. These businesses are lower risk for banks than Tier I. Legal cannabis sales in the U.S.

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Banking Business Marijuana Hydroponic 98

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

Cannabis Law Report

APRIL 8, 2023

The National Cannabis Policy Summit’s Congressional Forum convenes cannabis advocates, patients, business leaders and policy experts for an afternoon of keynote addresses and discussions featuring Members of Congress in the Capitol Visitors Center’s Congressional Auditorium.

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Policy Events Banking Topical 52

NORML

AUGUST 19, 2019

Currently, public support for legalizing weed nationwide is at an all-time high: 62 percent of Americans favor legalizing the adult use of marijuana, while over 90 percent want access to medical cannabis. The issue isn’t if marijuana will be legalized anymore. What will happen at the local levels if it does become law?

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Policy Marijuana Legislation Programs 274

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

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. Customers will now be able to pick up Cresco products in 70% of the current legal cannabis states. Cannabis Industry Makes Final Push for SAFE Banking.

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Banking Consumption Dispensary Cannabis 98

SpeedWeed

AUGUST 30, 2021

As Democrats in Congress appear eager to finally tackle comprehensive marijuana reform, Colorado Governor Jared Polis hopes they address one particular cannabis policy first. I hope that you will first focus your efforts on the two biggest barriers to the success of the cannabis industry: banking and IRS Code Section 280E (280E).

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Banking Legislation Business Cannabis 87

NORML

SEPTEMBER 25, 2019

Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of 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. What’s Next?

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Legislation Retail Banking Advocacy 277

Canna Law Blog

OCTOBER 17, 2022

One of John’s specialty areas is state and federal marijuana policy. The title of our panel was “Update on the Federal Policy Landscape Including Congress and the Executive Branch.” let alone talked about legalizing it. What is the Kansas City Federal Reserve Bank? What does that mean?

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Legalization Banking Research and Development Policy 90

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. Federal Cannabis Policies: What’s New. Cannabis Business Bottom Lines.

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Legalization Compliance Compliance Research and Development 246

NORML

OCTOBER 15, 2019

NORML Canada launches official Post-Legalization platform to focus advocacy efforts on reforming Canada’s legal Cannabis system. Our goal is to ensure consumers have ease of access to legal cannabis products, access to medical dispensaries, access to world-class product options, as well as access to affordable legal options.

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Legalization Advocacy Banking Access 195

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. Last year, AFGE passed a resolution supporting cannabis legalization.

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Legalization Supply Chain Banking Marijuana 120

Cannabis Law Report

JUNE 24, 2021

A House subcommittee on Thursday approved a large-scale funding bill that includes provisions protecting banks from being punished for working with marijuana businesses and allowing Washington, D.C. to legalize cannabis sales. House Committee Approves Marijuana Protections For Banking And D.C. Read full article at .

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Banking Marijuana Policy Legislation 87

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

FEBRUARY 9, 2022

Well worth a read if you want to catch up on the state of British banking for cannabis / hemp products… it’s not good! Banks, insurance companies and payment providers are refusing to work with cannabis-related companies throughout the UK, hampering the growth of the industry and leaving many in financial limbo.

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Banking Business Media Access 59

WeedAdvisor

MAY 22, 2019

Banking and the cannabis industry have a somewhat hands-off relationship. banks are skittish about doing business with dispensaries in legal states. Even taxes cannot be paid electronically through a bank, forcing owners to literally hand massive amounts of cash to the IRS every year. New Legislation. .

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Banking Business Legalization Marijuana 45

Canna Law Blog

MAY 26, 2019

Looks like marijuana banking is stuck, again. The banking associations from all 50 states and 1 U.S. territory sent a joint letter to leaders of the Senate Banking Committee on Monday, to urge advancement of bipartisan legislation that would protect financial institutions that service marijuana businesses.

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Banking Marijuana Safety Legislation 90

Cannabis Law Report

MAY 28, 2022

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking. That can prove costly.

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Banking State Laws Law DEA 52

Cannabis Law Report

DECEMBER 7, 2021

Congress is making another run at providing a safe harbor to the banking industry and companies that provide services to cannabis businesses. On September 21, 2021, the House voted to include the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) 1 in the annual National Defense Authorization Act for Fiscal Year 2022 (NDAA).

Banking 52

Banking Compliance Compliance Business 52

SpeedWeed

AUGUST 20, 2021

Despite a busy year on the state level and multiple bills announced and introduced into Congress, not much legislative progress has been made on federal cannabis policy in 2021. . Could the acceptance of standalone banking regulations sap momentum for full scale reform? Reconciling standalone banking with descheduling .

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Banking Legislation Packaging Cannabis 52

SpeedWeed

MARCH 24, 2021

senators attached their names to the Secure And Fair Enforcement (SAFE) Banking Act of 2021, legislation that was reintroduced March 23 in the upper chamber of Congress. The Senate version of the bill comes on the heels of SAFE Banking being refiled in the House on March 18, where it carries more than 100 co-sponsors. Thirty U.S.

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Banking Access Safety Business 52

Cannabis Law Report

MAY 22, 2019

California Senate passes legislation to create state-chartered cannabis banks. The California Senate approves legislation to create state-chartered cannabis banks to help the industry get around restrictions on access to banking services. Congress to federally legalize banking for the marijuana industry.

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Banking Retail Legislation Policy 49

Canna Law Blog

JULY 22, 2019

Tomorrow, a Republican-controlled Senate Banking Committee hearing will examine cannabis businesses’ lack of access to banking services to further consider the SAFE Banking Act. CUNA President and CEO, Jim Nussle, already commented: At its heart, cannabis banking is a public safety issue. It’s an $8.3 It’s an $8.3

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Banking Legislation Safety Access 89

Canna Law Blog

DECEMBER 24, 2019

Our firm represents a number of financial institutions and even a federal agency on banking state-legal cannabis. The number one question we have received lately is: “do you know a bank or credit union that will bank my hemp-CBD business?” And here’s why.

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Banking Hemp CBD Cultivation 74

Canna Law Blog

JULY 29, 2019

As we reported last week , a Senate Banking Committee hearing occurred this past Tuesday to consider the SAFE Banking Act. He cited that polling now shows about 65% of Americans support legalization of marijuana and 93% support medical marijuana. But the SAFE Banking Act is narrowly targeted,” she said. “It’s

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Banking Policy Decriminalization Compliance 75

Cannabis Law Report

JULY 1, 2022

Portland, OR. – Outdated federal barriers to banking services continue to severely impact the legal cannabis industry in Oregon and nationwide. While cannabis may be legal in Oregon, criminal enterprises are very aware of this impediment and target cannabis businesses. The OLCC Press Release.

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Banking Business Access Safety 52

NORML

FEBRUARY 27, 2019

As the tentacles of the federal policy of cannabis prohibition run deep into nearly every sector of American public policy, a new voice emerged to call for clarity regarding state-legal cannabis marketplaces: Federal Reserve Chair Jerome Powell.

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Banking Policy Business Safety 135