NORML

JULY 17, 2019

Members of the United States Senate Committee on Banking, Housing, and Urban Affairs are scheduled to hear testimony next week regarding the need to provide greater access to financial services for state-licensed marijuana-related businesses. ” (Read NORML’s full testimony here.).

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Banking Marijuana Access Legislation 192

NORML

MAY 12, 2020

Included in the language of the bill is 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. Members of the House of Representatives voted 321 to 103 in favor of the Act in September.

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Packaging Banking Business Legislation 288

PrestoDoctor

AUGUST 1, 2022

Marijuana banking options are limited for many entrepreneurs despite the fact that several thirty-six states legalize medical marijuana use. Thanks to a recent cannabis banking bill that has passed in Pennsylvania, cannabis-related businesses now have the right to use financial institutions and insurance for their businesses.

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Banking Law Marijuana Compliance 52

Cannabis Law Report

APRIL 27, 2023

SENATOR’S SAFE BANKING ACT WOULD ALLOW LEGAL CANNABIS BUSINESSES TO ACCESS BANKING SERVICES SUCH AS LINES OF CREDIT, SAVINGS AND CHECKING ACCOUNTS U.S.

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Banking Access Business Legalization 52

Veriheal

APRIL 14, 2022

Banking has been a hurdle for cannabis businesses since the birth of the industry. While the federal SAFE Banking Act —which seeks to provide banking protections for cannabis businesses—continues to hit road bump after road bump in the U.S. The Cole Memo, however, did not require banks to serve cannabis-related companies.

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Banking Business Cannabis Access 117

Cannabis Life Network

FEBRUARY 14, 2023

The cannabis industry is suing Canadian banks. Canada’s legal cannabis industry has launched a class-action lawsuit against Canada’s large cartel of banks. They allege the banks have discriminated against them by arbitrarily closing accounts and denying services and access to credit.

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Banking Access Cannabis Legalization 75

Canna Law Blog

DECEMBER 6, 2022

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

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Banking Compliance Compliance State Laws 80

Canna Law Blog

AUGUST 17, 2023

Oregon’s governor recently vetoed an effort to create a state bank for marijuana businesses, in another blow to the struggling industry. The lack of consistent, equitable access to banking has been recurring issue for Oregon marijuana businesses and those in other states.

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Banking Marijuana Legislation Business 52

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

Americans for Safe Access

SEPTEMBER 26, 2019

“The potential benefits that patients stand to gain from passage of the SAFE Banking Act are significant. Americans for Safe Access is proud to have supported this historic bill since its introduction and reiterates its call for swift passage in the Senate.

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Banking Patients History Legislation 148

Canna Law Blog

MARCH 13, 2023

The Safe Banking Act , also known as the Secure and Fair Enforcement Banking Act (SAFE Banking Act), is sorely needed legislation to address the critical issue of financial services being denied to marijuana businesses that operate in the state-legalized industries. What is the SAFE Banking Act?

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Banking Business Safety Legislation 81

Cannabis Law Report

FEBRUARY 15, 2019

Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses. H.R. _ , “The Secure And Fair Enforcement Banking Act of 2019” [DRAFT]. Neill Franklin (Ret.) , Baltimore City & Maryland State Police Departments, and Executive Director, Law Enforcement Action Partnership (LEAP). f t # e.

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Banking Access Business Legislation 63

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

APRIL 28, 2022

Banking associations representing all 50 states and one U.S. territory sent a letter to Senate leaders on Thursday, imploring them to include marijuana banking reform in a large-scale manufacturing bill that’s heading to bicameral conference. ABA and SBA Letter to the Senate Support SAFE Banking in America COMPETES Act 04282022.

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Banking Access Legislation Packaging 59

Cannabis Law Report

MARCH 8, 2022

consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. The American Bankers Association (ABA) hasb shared a new poll in conjunction with the Morning Consult showing that the majority of U.S.

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Banking Hemp Business Access 52

Cannabis Law Report

FEBRUARY 10, 2021

State Agencies Enact Regulations to Improve Banking Access for Cannabis Industry California has enacted regulations to implement Assembly Bill 1525.… The post Manzuri Law: CA & LA Updates From The Firm – February 2021 first appeared on Cannabis Law Report. … Read More.

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Law Banking Access Cannabis 98

Cannabis Law Report

APRIL 27, 2022

Cann Group has executed final documentation to enter into a A$15 million working capital facility with National Australia Bank (NAB) to help scale the business and fund its long-term growth strategy. Let’s hope they don’t lose this money somewhere in Hong Kong! Cannabiz Australia reports. Cann Group. Cann Group CEO Peter Crock.

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Banking Access Business 52

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

Cannabis Law Report

DECEMBER 2, 2021

Treasury Secretary Janet Yellen said she supports allowing legal cannabis dispensaries to access the US banking system — where they’re now largely barred — to make it easier for the government to collect tax revenue. Yes, of course it would,” the Treasury secretary replied.

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Collective Banking Access Dispensary 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).

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Banking Compliance Compliance Business 52

MassRoots

JULY 28, 2020

One of the most important pieces of cannabis related legislation, the Secure and Fair Enforcement Banking Act ( SAFE Banking Act ), has the chance to be included in the next round of COVID-19 relief legislation in the United States. Tell them to support the inclusion of the SAFE Banking Act. Don’t wait.

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Banking Legislation Business Programs 66

Cannabis Law Report

OCTOBER 7, 2021

Read my op-Ed on Marijuana Banking [link]. Taking action to clarify banking rules for the legal cannabis industry now, rather than standing by while states construct an ad hoc system of conflicting banking rules, will go a long way toward easing that transition.”. — Rodney E. Hood (@Rodney_e_hood) October 8, 2021.

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Banking Access Business Recreational 52

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. Therefore, it’s not yet clear whether banks will service clients engaged in those activities.

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Banking Hemp Compliance Compliance 64

Greenspoon Marder Cannabis Law Group Blog

JUNE 14, 2019

Although this resolution is limited in scope, pending legislation on the horizon would definitively remedy this issue, specifically the Secure and Fair Enforcement (“SAFE”) Banking Act. As of June 5 th , 2019 the SAFE Banking Act has been placed on the Union Calendar (Calendar No. Victor Fox is not an attorney.

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Banking State Laws Cannabis Business 64

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 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

Cannabis Law Report

OCTOBER 5, 2021

The House of Representatives has approved cannabis banking legislation for the fifth time. The Secure and Fair Enforcement (SAFE) Banking Act is legislation that “would allow marijuana-related businesses in states with some form of legalized marijuana and strict regulatory structures to access the banking system.” [1]

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Banking Legislation Environment Access 52

Cannabis Law Report

SEPTEMBER 9, 2021

Sahar Ayinehsazian , Senior Associate Attorney in Vicente Sederberg’s Los Angeles office, co-lead of the Firm’s Banking and Financial Services Department, and a member of the National Cannabis Industry Association’s Banking Access Committee. What steps should cannabis businesses take when trying and secure legitimate banking?

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Banking Sleep Business Events 93

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. Cannabis banking should be a priority,” stated OLCC Chair Paul Rosenbaum. The OLCC Press Release. Workers have been threatened at gunpoint, assaulted and tragically even killed.

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Banking Business Access Safety 52

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. We have consistently heard from lawful hemp producers about the lack of access to financial products. Senators, Sen.

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Banking Hemp Access Business 76

Cannabis Law Report

MAY 19, 2022

Impacts include risks to public safety and security, impacts on governmental regulatory agency access to banking and depository services, and impacts on small and minority cannabis businesses. CANNRA+Banking+Letter_FINAL.

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Banking Policy Safety Access 52

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. The bill passed the U.S.

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Banking Safety Business Cannabis 69

Cannabis Law Report

MAY 2, 2023

Senator Bob Menendez, a senior member of the Senate Banking Committee and Chairman of the Subcommittee that oversees the insurance industry, today announced the reintroduction of the bipartisan Clarifying Law Around Insurance of Marijuana (CLAIM) Act, which would ensure legal marijuana and related businesses have access to comprehensive and affordable (..)

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Business Banking Legalization Marijuana 105

Canna Law Blog

JANUARY 16, 2019

And there are so many ramifications, from food law to trademarks to the financial services environment. 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. It’s huge news. So what does all of this mean?

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Banking Hemp Environment Access 71

SpeedWeed

MARCH 18, 2021

Cannabis and Banking. banks and credit unions are reluctant to work with cannabis businesses because of concerns surrounding the federal illegality of cannabis. often scares away financial institutions, forcing the cannabis industry to either be sneaky about how they do their banking or deal mostly in dangerous amounts of cash. .

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Banking Compliance Compliance Access 52

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. Stay tuned.

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Banking Marijuana Safety Business 74

NORML

OCTOBER 15, 2019

1) Increased Access. 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. 4) US relations – border & banking.

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