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.

Banking 45

Banking Compliance Compliance Policy 45

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

Canna Law Blog

APRIL 14, 2019

The SAFE Banking Act just got a new, prominent supporter – on April 9, 2019, Treasury Secretary Steven Mnuchin pledged to take a look at the legislation that would allow financial institutions to service cannabis businesses. As we’ve previously written about, there have been several calls for clarity on this banking issue.

Banking 71

Banking Legislation State Laws Business 71

Cannabis Law Report

FEBRUARY 14, 2020

Mike Crapo urging him to support the SAFE Banking Act and hold a markup in the Senate Banking Committee. . The House of Representatives passed the SAFE Banking Act by a vote of 321-103 in September, with 91 Republicans voting in favor. We are a bipartisan group, with operations spread across the United States.

Banking 59

Banking Safety Environment Business 59

Cannabis Law Report

JANUARY 30, 2019

European cannabis firms and investors enviously watching the rapid maturation of the multi-billion dollar North American industry may consider something both geographies have in common; the difficulty of getting banks onside. As of September 2018, Forbes reported just 30 percent of cannabis firms in the US had access to bank accounts.

Banking 77

Banking Hemp Business Cannabis 77

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

Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

Banking 40

Banking Data Media Business 40

The Joint Blog

MAY 22, 2019

The Associated Press is reporting that California is quickly moving forward with a plan to establish a system of banks to work with the marijuana industry which is legal under state law, but illegal under federal law. “This is as close as we can get until the federal government changes its policy,” said Sen.

Banking 50

Banking Marijuana Retail Collective 50

Cannabis Law Report

FEBRUARY 3, 2022

The other major policy piece included in HB 4074 relates to the Oregon Criminal Justice Commission Illegal Marijuana Market Enforcement Grant Program Fund. House Joint Resolution 205 – State Banking. A state bank run by the State of Oregon could provide these financial services.

Banking 52

Banking Legislation Hemp Programs 52

NORML

MARCH 20, 2020

In short, federal anti-drug laws continue to define the state-authorized cannabis industry, and those who work in it, as drug felons. 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.

Business 335

Business Legislation Access Policy 335

Cannabis Law Report

SEPTEMBER 20, 2019

Mj Biz report…… A bill that would create a federal safe harbor for financial institutions to serve state-lawful cannabis businesses and ancillary companies will be put to a landmark vote in the U.S. Hoyer, D-Maryland, announced on the House floor that he will schedule the SAFE Banking Act for a vote.

Banking 45

Banking Collective State Laws Policy 45

MJ Business Attorneys

JUNE 20, 2018

Last Thursday a bipartisan group of lawmakers lead by Colorado Senator Cory Gardner and Massachusetts Senator Elizabeth Warren proposed the measure that would completely reform federal marijuana policy in America.

Banking 100

Banking Compliance Compliance Marijuana 100

Cannabis Law Report

OCTOBER 13, 2021

SAFE Banking Act of 2021: Where Are We on Cannabis Banking Change? – by Jennifer Le at Sheppard Mullin. Intellectual Property Strategies To Best Protect Cannabis Related Innovations – by Katie Rubino at Caldwell Intellectual Property Law.

Law 98

Law Banking Hemp Cannabis 98

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. His corporate practice focuses primarily in the areas of mergers and acquisitions, corporate finance, capital raising (debt and equity), and bank regulatory compliance.

Banking 40

Banking Law Compliance Compliance 40

SMPL

AUGUST 14, 2019

The American Bar Association (ABA) adopted a resolution on Monday that calls on Congress to allow states to set their own marijuana policies and recommends rescheduling or descheduling cannabis under federal law. The report goes on to describe how its recommendations would help resolve some of these issues.

Policy 40

Policy Research and Development Marijuana DEA 40

Canna Law Blog

NOVEMBER 13, 2020

Whether or not the federal government takes a position of non-enforcement, psilocybin contracts will face serious issues given the state of federal law. Federal (and possibly even state) courts may refuse to enforce contracts that involve a federally illegal substance, even if authorized by state law.

Banking 94

Banking Therapy Business Access 94

MassRoots

FEBRUARY 11, 2019

It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it.”. It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it. It also allows legal cannabis businesses to have access to normal banking services, permits U.S.

Legalization 111

Legalization Marijuana Legislation Policy 111

NORML

JANUARY 19, 2020

The US House Energy and Commerce Subcommittee on Health will hold a legislative hearing entitled “Cannabis Policies for the New Decade.” ” This marks the first time that members of the Energy and Commerce Committee will hear and debate issues specific to marijuana policy reform. CO resident? NJ resident? New Mexico.

Legislation 243

Legislation Decriminalization Access Patients 243

Canna Law Blog

FEBRUARY 9, 2022

Cannabis, psychedelics, and banks. There is just no way that financial institutions will bank psilocybin funds for the time being. The moral of the story is that if – for example – a cannabis company with a bank account decides to obtain an Oregon psilocybin license next year, it will risk losing its cannabis bank account.

Business 80

Business Banking Compliance Compliance 80

Cannabis Law Report

APRIL 12, 2019

Treasury Secretary Steven Mnuchin pledged on Tuesday to take a look at a banking bill that would enable financial institutions to service cannabis businesses. I’m not going to make a comment on what the policy should be,” Mnuchin said. There is a problem that there is a conflict between the federal law and state law.”.

Banking 58

Banking State Laws Policy Legislation 58

Cannabis Law Report

JUNE 30, 2021

More importantly to Thomas, addressing the gulf between the country’s de facto and de jure marijuana policy fits within a larger project of his (and other conservatives) that would see a reduced role for the federal government in many areas of the law. Cash-based operations are understandably enticing to burglars and robbers.

Banking 102

Banking Strains Law State Laws 102

NORML

JUNE 23, 2019

Governor Kate Brown (D) signed legislation into law to to automatically conduct a review of past misdemeanor cannabis convictions, and to “set aside” offenses that are no longer a crime under state law. Click here to email your lawmakers in support of banking access. CA resident? Legislation is pending, S.

Legislation 185

Legislation Hemp Decriminalization Agriculture 185

Canna Law Blog

OCTOBER 31, 2021

280E and banking reform. Banking reform is much more likely to happen before Congress decides to mess with 280E (despite the fact that certain law firms continue to try to pull off Hail Marys in tax court litigation to eliminate or reduce the draconian effect of 280E).

Banking 98

Banking Cannabis Business Legalization 98

Cannabis Law Report

APRIL 15, 2022

Ed Perlmutter’s (D-CO) Secure and Fair Enforcement Banking (SAFE) Banking Act , which was most recently passed by the House in 2021. Provide for reforms to the treatment of marijuana-related activities or convictions in federal immigration policy. Chuck Schumer (D-NY), and Rep.

Marijuana 52

Marijuana Banking Research and Development Legislation 52

NORML

APRIL 5, 2019

Under state law, adults face civil penalties for minor marijuana possession offenses. Senate Bill 45 would make this policy consistent for juvenile offenders. Click here to email your lawmakers in support of banking access. Click here to email your lawmakers in support of banking access. HI resident? IL resident?

Legislation 185

Legislation Banking Hemp Compliance 185

Canna Law Blog

DECEMBER 31, 2021

None of that came to fruition, and it appears that Democrats even actively fought against some pretty meaningful banking reform by killing off the SAFE Banking Act as part of the NDAA. I still have hope that proposed legislation like the States Reform Act will make its way into reality in 2022. California tax reform.

Banking 80

Banking Programs Legislation Cannabis 80

NewsMunchies

DECEMBER 22, 2021

Most Americans have access to either medical or adult-use cannabis under state laws. Since 2012, 18 states and Washington, D.C., have legalized adult-use marijuana, while 37 states have legalized medical marijuana. At present, the state allows marijuana use only for medical reasons.

Law 89

Law Marijuana DEA Legalization 89

Canna Law Blog

JANUARY 31, 2022

While you still can’t register trademarks with the USPTO for cannabis goods, there is now all kinds of intellectual property and brand strategy that goes into state law registration and registration for ancillary goods and services classes. At a minimum, licensees are often forced to get commercial general liability policies.

Business 85

Business Compliance Compliance Banking 85

Cannabis Law Report

AUGUST 6, 2019

Regulators won’t punish credit unions simply for working with marijuana businesses that are operating in compliance with state laws, the head of the federal agency that oversees the financial services providers said in a new interview. We don’t get involved with micro-managing credit unions,” he said.

Banking 40

Banking Compliance Compliance State Laws 40

Cannabis Law Report

DECEMBER 19, 2021

The federal proposals seek to establish 21st century banking services for the nearly $18 billion industry and purge the criminal records of thousands of marijuana offenders. Another key bill, the SAFE Banking Act sponsored by Rep. Ed Perlmutter (D-Colo.),

Research and Development 52

Research and Development Banking Marijuana Policy 52

Cannabis Law Report

JUNE 27, 2019

On June 11, 2019, the House Appropriations Committee passed spending legislation which provides new protection to financial institutions that provide banking services to marijuana businesses. There also is a parallel banking bill currently pending in the Senate that has 30 co-sponsors.

Legislation 40

Legislation Banking State Laws Business 40

Canna Law Blog

MARCH 30, 2020

even if the business is legal under local or state law. In 2018, SBA issued a Policy Statement defining “Direct Marijuana Business” and “Indirect Marijuana Business.” The Policy Statement explained that those two categories of businesses are not eligible SBA borrowers. This is not a new SBA position.

Banking 68

Banking Hemp Policy Supply Chain 68

Canna Law Blog

FEBRUARY 17, 2023

This lack of research has made it challenging to create evidence-based policy around the legalization of marijuana and has contributed to political resistance to legalizing marijuana at the federal level. As a result, there has been an increase in employment law disputes, such as wrongful termination or discrimination claims.

Banking 80

Banking Legalization Business Cannabis 80

Canna Law Blog

MAY 14, 2019

Banking , intellectual property , food and beverage (and cosmetics ), international trade , domestic trade , state laws , ag production contracts , etc., law with respect to cannabis. When it comes to industrial hemp, the 2018 Farm Bill upended all of these things. That exchange takes U.S. So what does this mean for U.S.

Hemp 75

Hemp CBD Policy Banking 75

NORML

APRIL 2, 2019

We will be taking many more in-depth looks at the 2020 race as it progresses, including potential primary challengers on the Republican side, but first we wanted to provide an overview of all the currently announced Democratic candidates, along with their record and policy statements when it comes to marijuana legalization. The Senators.

Marijuana 278

Marijuana Legislation Policy Legalization 278

Cannabis Law Report

MARCH 5, 2020

State budget forecasters are banking on a robust kickoff, however, estimating $5 million in sales by the end of the month. Maine is “very close” to issuing the first round of conditional recreational business licenses, said Erik Gundersen, the director of the Office of Marijuana Policy. Read their full report at.

Dispensary 59

Dispensary Safety Conditions Banking 59

Cannabis Law Report

JULY 29, 2022

And there is no dispute that “the federal government continues to lag woefully behind” in correcting the injustices caused by the existing federal drug law and policies, Booker acknowledged. For those twenty-one and older, the CAOA recognizes state law as controlling the possession, production, or distribution of cannabis.

Legislation 52

Legislation Legalization Marijuana Banking 52