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.,

Banking 52

Banking Compliance Compliance Business 52

SpeedWeed

APRIL 22, 2021

A bipartisan group of twenty-one state governors sent a letter to congressional leaders on Monday urging lawmakers to support a bill that would allow legal cannabis businesses to have access to traditional banking services. Green Wave Of Legalization Continues Beyond the SAFE Banking Act. states, four U.S.

Banking 52

Banking Safety Access Business 52

Canna Law Blog

NOVEMBER 3, 2023

The lawsuit filed on October 26 against Merrick Garland to “end federal cannabis prohibition” wouldn’t really end federal cannabis prohibition. A victory would help cannabis operators who are drawing within the lines, as long as they stay within those lines. This press release from the plaintiffs’ law firm explains why.

Topical 112

Topical DEA Cannabis State Laws 112

NORML

MARCH 20, 2020

That is why this week, NORML reached out to our numerous allies on Capitol Hill to ensure that any Unemployment Insurance aid packages considered by Congress provide relief to cannabis-industry personnel who have been or will be either furloughed from their jobs. even if the business is legal under local or state law.”

Business 330

Business Legislation Access Policy 330

Cannabis Law Report

JANUARY 30, 2019

PUBLISHER: CANNABIS LAW REPORT. 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. AUTHOR: MARK TAYLOR.

Banking 77

Banking Hemp Business Cannabis 77

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

JUNE 5, 2019

House Democrats have introduced bipartisan legislation to address the conflict between states that have legalized cannabis within their borders for medical and/or personal use, and federal law, under which cannabis remains a Schedule I controlled substance. 1595 , was introduced by Rep.

Banking 40

Banking Compliance Compliance State Laws 40

Cannabis Law Report

FEBRUARY 14, 2020

More than 1300 cannabis business owners, executives, and employees co-signed a letter to Sen. 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.

Banking 59

Banking Safety Environment Business 59

SpeedWeed

MARCH 21, 2021

State-legal cannabis companies aren’t stashing large stacks of cash behind walls or rubber-banded bankrolls in hidden vaults. billion of legal cannabis sales in the U.S. billion of legal cannabis sales in the U.S. But those banks are not the “national associations” of the world. Shannon Price | Adobe Stock.

Banking 52

Banking Compliance Compliance Business 52

WeedAdvisor

SEPTEMBER 18, 2019

According to Forbes , one third of the Senate now supports the SAFE Banking Act, a bill that would provide dispensaries access to critical financial services. The fear of federal repercussions keeps major financial institutions for dealing with these businesses, despite their being compliant with state law.

Banking 45

Banking Dispensary Legislation State Laws 45

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.

Business 99

Business Banking Advocacy Cannabis 99

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.

Banking 133

Banking Policy Business Safety 133

Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

Banking 40

Banking Hemp Safety Business 40

MassRoots

AUGUST 3, 2020

Louisiana’s medical marijuana program may have been established three years ago, but patients were not granted access to medicine until August of 2019 when the first round of the product became available. House Bill 418 aims to provide extra protection for those businesses that operate within the parameters of Louisiana state law.

Programs 124

Programs Banking Marijuana Conditions 124

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

Canna Law Blog

JUNE 22, 2023

This Friday June 23rd, Harris Bricken’s Griffen Thorne will present on international and domestic cannabis issues with Dan Rothberg at GGI Global Alliance’s North American Regional Conference in Los Angeles. states have began to relax or repeal local cannabis prohibitions in spite of federal and international prohibitions.

Banking 56

Banking Access Topical State Laws 56

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.

Banking 40

Banking Cannabis Business Safety 40

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

Banking 40

Banking Hemp Marijuana Events 40

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.

Banking 45

Banking Safety Business History 45

Cannabis Law Report

JULY 31, 2019

There has been a dramatic shift in Americans’ view of cannabis throughout the last decade. Americans’ access to cannabis has also grown as states pass various laws allowing medical and adult use of the plant. As of today, a majority of states and U.S. territories allow for some form of legal cannabis.

Banking 40

Banking Research and Development Safety Legislation 40

Cannabis Law Report

NOVEMBER 12, 2019

Many legal cannabis suppliers and retailers are being forced to operate in a cash-intensive market due to federal laws that limit access to traditional banking. Banks face four significant challenges when servicing the cannabis industry, according to a California state-backed report.

Banking 45

Banking Supply Chain Seed-To-Sale Data 45

Canna Law Blog

FEBRUARY 9, 2022

Many cannabis companies are thinking about creative ways to pivot into the developing psychedelics market. It’s one thing for companies to leave cannabis altogether and go full tilt into the psychedelics space. But mixing cannabis and psychedelics into one business presents some unique – and serious – risks.

Business 80

Business Banking Compliance Compliance 80

Canna Law Blog

NOVEMBER 13, 2020

In a previous post, we discussed similarities and differences between the movements to legalize psilocybin and cannabis. In this post, we’ll look at the top 10 issues that will likely carry over from cannabis to psychedelic drugs more generally. This issue still comes up for cannabis operators and can be a huge concern.

Banking 94

Banking Therapy Business Access 94

The Joint Blog

FEBRUARY 20, 2019

Legislation that would protect banks who provide services to medical marijuana businesses has been passed by the full West Virginia House of Delegates. “The purpose of this section is to provide a solution to the banking problems encountered by the state in connection with the Act.”

Banking 48

Banking Marijuana Collective State Laws 48

The Blunt Truth

JULY 30, 2019

Last week, several members of Seyfarth’s cannabis practice attended CannaVest West and the Cannabis Business Summit & Expo. Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate.

Banking 78

Banking Hemp Cannabis Access 78

The Joint Blog

SEPTEMBER 30, 2019

In a historic 321 to 103 vote, the United States House of Representatives has passed a bill to allow banks to work with marijuana businesses that are legal under state law. “These meetings have highlighted how important it is for these entrepreneurs to have access to financial services for their business operations.

Banking 35

Banking Marijuana Legislation Business 35

The Blunt Truth

OCTOBER 1, 2020

Four members of Congress introduced a bill allowing the marijuana industry to access relief funds. Cannabis banking appears in the Democrats’ new stimulus bill. The Nebraska Supreme Court ruled in favor of CBD sellers in the state. New Jersey may decriminalize cannabis. cannabis relief. cannabanking.

Decriminalization 113

Decriminalization Banking Legislation Access 113

Cannabis Law Report

DECEMBER 4, 2021

With growing support for cannabis reform all across the nation and Washington, D.C. Given the demonstrated broad support for this measure, we ask you to ensure that the text of the SAFE Banking Act remain in the forthcoming final conference version of the FY22 NDAA by the Senate receding to the House of Representatives on Title LIV of H.R.4350

Banking 52

Banking Safety Compliance Compliance 52

Cannabis Law Report

AUGUST 19, 2022

THE Fair Trading Commission (FTC) is recommending that the Government create a funding facility for entrepreneurs and small farmers in the cannabis industry. The recommendation follows the completion of a market study of the cannabis industry which revealed that funding is one of the major impediments in the industry.

Banking 52

Banking Research and Development Legislation Access 52

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.” Legislation is pending, House Bill 1089, to protect cannabis consumers from employment discrimination. Send a message to your lawmakers in support of medical marijuana access.

Legislation 240

Legislation Decriminalization Access Patients 240

Canna Law Blog

OCTOBER 31, 2021

Some readers may be surprised to realize that a lot of cannabis stakeholders actually don’t want broadsweeping federal legalization. 280E and banking reform. That guidance though remains a band-aid for a much bigger issue, which is that all cannabis investment dollars, financial proceeds, etc.

Banking 98

Banking Cannabis Business Legalization 98

Cannabis Law Report

NOVEMBER 23, 2021

Mark Kelly – United States Senator. Rosen Leads Bipartisan Effort to Ensure SAFE Banking Act Included In NDAA. Letter from Senate Armed Services Committee Members Urges Committee Leaders to Keep House-Passed Bipartisan Bill Allowing Legal Cannabis Businesses to Access Critical Banking Services in Final Version of NDAA.

Banking 52

Banking Access Business Legislation 52

Cannabis Law Report

JUNE 8, 2021

We discussed a number of topics, including: My first-hand experience with CBD and my path to representing businesses in the cannabis industry. Some of the biggest legal challenges that cannabis businesses face, such as the lack of access to banking, and merchant processing. You can contact him by clicking here.

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Hemp CBD Legalization Banking 105

NORML

APRIL 5, 2019

This Act amends the Controlled Substances Act to reduce the number of instances in which federal law enforcement agencies could carry out legal actions against state-licensed cannabis businesses or other related enterprises. Governor Michelle Lujan Grisham (D) of New Mexico signed cannabis decriminalization legislation into law.

Legislation 181

Legislation Banking Hemp Compliance 181

Canna Law Blog

FEBRUARY 17, 2023

Just a few weeks ago my colleague, Hilary Bricken, authored a post, Will AI Replace Your Cannabis Lawyer? (I with ChatGPT about being a cannabis lawyer, the ethical rules, and to draft a cannabis contract (ChatGPT declined to do so). I Asked ChatGPT) in which she discussed her conversation (?)

Banking 80

Banking Legalization Business Cannabis 80

NORML

JUNE 23, 2019

Also this week, the House Committee on Small Business held a hearing to discuss the economic and employment opportunities in the emerging legal cannabis industry and the challenges that federal prohibition and criminalization pose in regards to the Small Business Administration. Click here to email your lawmakers in support of banking access.

Legislation 180

Legislation Hemp Decriminalization Agriculture 180

NORML

FEBRUARY 22, 2019

Delaware prosecutors will no longer be encouraged to pursue criminal charges against those who possess marijuana for personal use, according to guidelines issued by the state’s new Attorney General. Click here to email your lawmakers in support of access in healthcare facilities. California. CA resident? Connecticut. IL resident?

Legislation 173

Legislation Hemp Compliance Compliance 173