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).

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Banking Compliance Compliance Business 52

Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications. businesses.

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Greenspoon Marder Cannabis Law Group Blog

JUNE 14, 2019

In a press release published by the House Committee on Appropriations on June 2, 2019, a 2020 Financial Services and General Government Funding Bill was announced. Most recently, the House Appropriations Committee approved this resolution on June 11, 2019 with a vote of 31 to 21. By: Nabil Rodriguez, Esq. & & Victor Fox*.

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Canna Law Blog

FEBRUARY 27, 2019

Six years after it was initially introduced, the House Financial Services Committee released the latest draft legislation that would create a “safe harbor” for banks to serve the rapidly expanding cannabis industry on February 7, 2019.

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Banking Marijuana Legislation Business 91

SpeedWeed

MARCH 24, 2021

Two businessmen indicted in 2020 for defrauding merchant banks on behalf of California cannabis delivery company Eaze have been convicted by a Manhattan jury. Patterson resigned as CEO in 2019. The post Pair convicted in bank fraud case related to cannabis transactions appeared first on SpeedWeed. View original article.

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Banking Cannabis Marijuana 52

Cannabis Law Report

DECEMBER 17, 2019

by Douglas Sargent | Dec 17, 2019 | Banking/Financial Services , Legislation | Federal. After passing the House in September with bipartisan support, the SAFE Banking Act seemed to have momentum. The SAFE Banking Act’s lead sponsor, Sen. SAFE Banking Act in “Stall Pattern”.

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Banking Legislation Cannabis 59

Canna Law Blog

JULY 7, 2020

The FinCEN Guidance centers on due diligence requirements as related to the Bank Secrecy Act (BSA). The FinCEN Guidance clarifies and expands upon the 2019 statement. The FinCEN Guidance clarifies and expands upon the 2019 statement. ” No surprises there. ” No surprises there.

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Banking Hemp Compliance Compliance 54

Cannabis Law Report

AUGUST 18, 2021

OKLAHOMA CITY – Today, VICTOR NGO , 33, of Oklahoma City, and FRIENDLY MANAGEMENT GROUP, LLC (FMG) , an Oklahoma business, pleaded guilty in connection with a scheme to open a bank account under false pretenses to launder proceeds from marijuana sales, announced Acting U.S. Today, Ngo pleaded guilty to making a false statement to a bank.

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Banking Business Marijuana Compliance 98

The Blunt Truth

DECEMBER 26, 2019

Welcome to The Week in Weed’s look back at the news of 2019; whether the year has flown by or seemed to last forever, it’s (almost) over now. Without further ado, here’s a look at the stories that grabbed our attention in 2019. In February, we saw the first ever Congressional hearing on cannabis banking.

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Banking Hemp Agriculture Seed-To-Sale 71

Canna Law Blog

MARCH 17, 2019

Great news: on March 7, 2019, the “ Secure and Fair Enforcement Banking Act of 2019 ” (or, the “SAFE Banking Act”) was officially introduced in the House of Representatives. In case you need a refresher, the SAFE Banking Act needs to pass the House by a simple majority (218 of 435) to reach the Senate.

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Banking Marijuana Safety Business 74

Cannabis Law Report

DECEMBER 27, 2021

An 11-year dispute over whether banks can pull mortgages from marijuana users is finally headed to the Canadian Human Rights Tribunal, says Blacklock’s Reporter. filed the complaint after the bank learned he was growing marijuana plants on his property and denied him further credit. The Western Standard reports.

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Banking Policy Marijuana Law 52

SpeedWeed

JULY 23, 2021

Most of us buy stuff digitally today, whether we are paying by card, banking app, or mobile payments app. . Most banks will not do business with cannabis merchants, either. Fortunately, you can now sign up for KindPay by KIND Financial and Herring Bank. KindPay works through its partnership with Herring Bank.

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Banking Compliance Compliance Retail 52

Cannabis Law Report

SEPTEMBER 24, 2019

Monday, September 23, 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.

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Banking Law Compliance Compliance 40

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

Cannabis Law Report

FEBRUARY 5, 2020

The “Roadmap to Cannabis Banking & Financial Services”, aims to increase the number of financial service providers in Colorado who serve the state’s legal marijuana and industrial hemp industries. 1595, the Secure and Fair Enforcement Act of 2019 (SAFE Banking Act). Roadmap to cannabis banking_January 2020.

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Banking Safety Business Cannabis 69

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? CCIA and The Liaison Group have been working tirelessly behind the scenes on SAFE Banking.

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Banking Access Business Programs 52

Cannabis Info

SEPTEMBER 9, 2019

8 Cannabis Trends to Watch in 2019. So, the big marijuana experiment, on a large scale, is opening new opportunities for 2019 but it will be mainly for those huge corporations that have a lot of resources to throw around. One can assume that consolidated acquisition will be in these industries in advance of edible legalization in 2019.

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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.

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Banking Legislation State Laws Business 71

The Blunt Truth

MARCH 28, 2019

The breaking news on the federal level is that the SAFE Banking Act has been approved by the House Financial Services Committee (45-15) and will now move to the full House for consideration. And in West Virginia , the governor has signed a medical marijuana banking bill.

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Banking Recreational Legislation Retail 87

Cannabis Law Report

FEBRUARY 15, 2019

Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses. 2128 RHOB, 0 Wednesday, February 13, 2019 @ 02:00. H.R. _ , “The Secure And Fair Enforcement Banking Act of 2019” [DRAFT]. Subcommittee on Consumer Protection and Financial Institutions. f t # e. Legislation. Witness List.

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Banking Access Business Legislation 63

Canna Law Blog

JANUARY 16, 2019

Since late December, we’ve had many clients come to us with frustrations about the ongoing lack of access post-Farm Bill, and questions about how things will play out in 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. Stay tuned.

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Banking Hemp Environment Access 72

Cannabis Law Report

DECEMBER 12, 2019

United States: Bank On Hemp: Federal Banking Regulators Loosen The Reins. On December 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (“FDIC”), the Financial Crimes Enforcement Network… United States: Feds Issue Badly Needed Hemp And CBD Banking Guidance.

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Banking Hemp Law Collective 59

Cannabis Law Report

JULY 12, 2019

The California legislature is currently considering a first-of-its kind urgency bill, SB 51, the “Cannabis Limited Charter Banking and Credit Union Law.” The law would empower privately insured charter banks and credit unions to be licensed as “cannabis depository institutions”, or “CDIs”, to bank California cannabis money.

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Banking Business Cannabis Legislation 40

The Blunt Truth

APRIL 18, 2019

Turning our attention to the federal government, Treasury Secretary Mnuchin recently showed support for a fix to the issue of cannabis (lack of) banking. As if to prove the need for banking reform, a Florida bank has cut ties with a medical marijuana business association. One more cabinet member, and it’s a thing!

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Banking Cultivation Business Legalization 83

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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The Blunt Truth

JULY 18, 2019

In other federal news, the Senate Banking committee is scheduled to hold hearings on cannabis banking next week. You’ll recall that lack of banking services is causing problems for West Virginia’s medical marijuana industry. Not to be outdone, the House has introduced a similar piece of legislation.

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Banking Food CBD Legislation 78

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. Although some of our hemp clients are banked (and even have crop insurance) many others are still underserved. Senators, Sen.

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Banking Hemp Access Business 77

Cannabis Law Report

APRIL 3, 2021

Here’s the introduction to their piece published 2 April 2021 Introduction In September 2019, the U.S. House of Representatives passed… Read More.

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Banking Law Cannabis 76

The Blunt Truth

JUNE 20, 2019

Texas has legalized it, and the Postal Service will ship it, but banking is still a problem. Speaking of banking, the House Appropriations Committee has passed the 2020 Financial Services and General Government bill, which includes protections for banks serving marijuana companies in states where cannabis is legal.

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Banking Decriminalization Education Business 76

The Blunt Truth

JULY 25, 2019

On Tuesday, the Senate Banking Committee had a hearing on cannabanking. What the SAFE Act would do for banking, the CLAIM act would do for insurance. Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Let’s start with Congress, which had a very busy week.

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Americans for Safe Access

NOVEMBER 2, 2020

The 2019-2020 congressional session has certainly provided some hope for the future of federal cannabis reform, with the 2019 House passage of the SAFE Banking Act ( HR 1595 ) and a 2020 vote still likely on the MORE Act (HR 3884 ) in the post-election lame duck session.

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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. What happened.

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Cannabis Law Report

DECEMBER 23, 2019

Posted by Alexa Steinberg, Esq. | Dec 20, 2019 . Here’s a look back at 2019 and a projection of what’s to come in 2020 Cannabis Law. . March 2019 – Development of LA’s Phase 3 Retail License Application. . We saw no movement or resolve with this issue in 2019.

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The Blunt Truth

JULY 4, 2019

Lack of banking services. Speaking of banking, the American Bankers Association sent a letter to regulators, asking for clarity on rules governing financial services for hemp businesses. And in Minnesota, Alzheimer’s disease is now a qualifying condition for medical marijuana. What’s the reason for the delay?

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The Blunt Truth

SEPTEMBER 19, 2019

Let’s start with banking. Civil rights groups are not so eager to see the banking bills advance. Both the House and the Senate have bills that got a lot of press this week. Votes could come very soon for both pieces of legislation.

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Cannabis Law Report

MAY 9, 2019

The letter, scroll down to see each signatory… naag-letter-safe-banking-act-2019. Virgin Islands, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin.

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Banking Legislation Cannabis Law 63

The Blunt Truth

DECEMBER 19, 2019

The big news on Capitol Hill this week was the Senate’s lack of action on the banking bill. Senator Mike Crapo (R-Idaho), the chairman of the Senate banking committee, opposes legalization and seemed disinclined to move on the issue.

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