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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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.

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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.

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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. Members of Congress have introduced the SAFE Banking Act or similar legislation in prior Congresses. Arnold & Porter. credit card companies). Protect all service providers (e.g.,

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SpeedWeed

JULY 23, 2021

Most of us buy stuff digitally today, whether we are paying by card, banking app, or mobile payments app. . But paying for cannabis digitally can be a hassle — if you are not using the right service. Most popular payment apps will not deal with legal, licensed cannabis businesses. How Exactly Does KindPay Work?

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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. Specifies how businesses on tribal land could qualify; and.

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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 WATCH PRESS CONFERENCE.

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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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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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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. It will happen in 2019. Imagine Pepsi or Corona beer infused with cannabis that will be healthy.

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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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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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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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Americans for Safe Access

NOVEMBER 2, 2020

With the November general election approaching and Congress looking to wrap up legislative work for the year in December, it is a good time to assess the status of cannabis reform. We also saw successful efforts to maintain and expand protection of state cannabis models through amendments to annual appropriations bills.

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Cannabis Law Report

DECEMBER 27, 2021

The dispute dating from 2010 follows Scotiabank’s recall of a loan to a homeowner with a federal licence to grow medical cannabis. 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. The Western Standard reports.

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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.

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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. With cannabis still being illegal on a federal level, financial institutions fear reprisals. SAFE Banking Act of 2019”) to protect banks against such prosecution.

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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? The cutoff time of today, August 4 at 5 pm is quickly approaching.

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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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The Blunt Truth

MARCH 28, 2019

Connecticut has voted a legalization bill out of a House committee; a bi-partisan group of Alabama legislators is sponsoring a medical cannabis bill and North Dakota is making progress on expanding its quite restrictive medical marijuana program. And in West Virginia , the governor has signed a medical marijuana banking bill.

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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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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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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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The Blunt Truth

APRIL 18, 2019

Beginning our coverage in Texas, the city of Dallas will no longer be prosecuting low-level first time cannabis offenders. The news for proponents of medical cannabis in Tennessee was not so rosy. ” Although former Vermont governor, Howard Dean, had previously opposed legalizing cannabis, he’s now a fan.

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Cannabis Law Report

DECEMBER 23, 2019

Posted by Alexa Steinberg, Esq. | Dec 20, 2019 . To kick us off, hemp was legalized at the federal level, and we entered into unchartered territory, navigating uncertain waters of the newest arm of the cannabis industry with a lack of regulation or guidance. TOP Defining Moments in Los Angeles Cannabis.

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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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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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The Blunt Truth

JUNE 20, 2019

Perhaps cannabis proponents will have better luck in 2020. State attorneys general have been quite vocal about cannabis lately. Texas has legalized it, and the Postal Service will ship it, but banking is still a problem. The University of Connecticut is now offering an online cannabis horticulture class.

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Cannabis Law Report

FEBRUARY 4, 2019

Winter Edition 2019 – Cannabis. 2019 Legislative Session – Agency Proposed Legislation. On January 9, 2019 the Board approved a motion to make the effective date for all marijuana product, packaging and labeling requirements Jan 1, 2020. Have lost their bank. The bank has denied their application.

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Veriheal

DECEMBER 7, 2022

Operating cannabis-based businesses in The Golden State is no easy feat for retailers. With the plant’s legal status confined by the federal Controlled Substances Act (CSA ) boundaries, cannabis stores are still operating illegally. Due to the plant’s illegal status, banking cannabis business revenue can be tricky.

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Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. This problem doesn’t just affect the cannabis industry.

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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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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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The Blunt Truth

JULY 25, 2019

On Tuesday, the Senate Banking Committee had a hearing on cannabanking. Robert Menendez (D-NJ) has introduced a bill allowing cannabis businesses (operating in states where it is legal) to obtain insurance services. What the SAFE Act would do for banking, the CLAIM act would do for insurance. Jerry Nadler (D-NJ) and Sen.

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The Blunt Truth

JULY 4, 2019

Florida will start producing commercial hemp, and it’s now legal to possess low THC cannabis oil in Kansas. As for New Mexico, out-of-state patients do not qualify for a medical cannabis card, but since a new panel will begin advising the governor on recreational marijuana legislation, that may not matter.

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Cannabis Law Report

FEBRUARY 15, 2019

Currently, two main drivers are responsible for market growth in California: the conversion of black-market consumers to legal consumers, and the emergence of new cannabis consumers who were previously held back by the stigma of consuming an illegal product. 2019 California Cannabis Forecast. link]. . . About this Event.

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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. This would allow more cannabis research, as would the Expanding Cannabis Research and Information Act. And Scott Gottlieb, former FDA director, says it’s time for federal regulation of cannabis.

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