Remove Access Remove Banking Remove Presentation
article thumbnail

Federal Shifts and Future Outlook: U.S. Cannabis Industry Updates

MaxQ Cannabis

The new administration’s approach to Cannabis policy presents a complex landscape for the U.S. Federal Rescheduling and Banking Access The new administration has expressed support for reclassifying Cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act.

Banking 66
article thumbnail

FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Many financial institutions seek to be a part of the cannabis banking movement. According to quarterly data presented by the US Treasury Department, over 800 banks and credit unions have filed paperwork with the United States government to state their relations with cannabis businesses. This marks a significant increase from last year.

Banking 114
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Big News: The SAFE Banking Act is Getting A Senate Hearing!

Canna Law Blog

Tomorrow, a Republican-controlled Senate Banking Committee hearing will examine cannabis businesses’ lack of access to banking services to further consider the SAFE Banking Act. CUNA President and CEO, Jim Nussle, already commented: At its heart, cannabis banking is a public safety issue. It’s an $8.3

Banking 106
article thumbnail

Senators Wyden and McConnell Press for Hemp Industry Banking Services

Canna Law Blog

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.

Banking 96
article thumbnail

Cannabis Banking Insights: Understanding the Evolution and Preparing for the Future Join Us on Wednesday, September 29, 2021

Cannabis Law Report

3 This is really something, interesting presenters, well worth the money, and i actually will learn something. Cory and Sahar will share insights and best practices to help cannabis operators understand the SAFE Banking Act of 2021, address industry challenges, and prepare for future opportunities.

Banking 93
article thumbnail

Cannabis Industry Left Out of Senate’s COVID-19 Relief Plan Again

Veriheal

The latest round of COVID-19 relief legislation has just come down the pike from the Senate, and while provisions have been made to protect several industries dealing with struggles stemming from the pandemic and the resultant economic crisis, the plan makes no attempt to provide protections for banks that service the cannabis industry.

Banking 98
article thumbnail

SAFE Banking Act passes the US House of Representatives by vote of 321 to 103!

Cannabis Law Report

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 It aims to address the state-legal cannabis industry’s lack of access to banking and other financial services.

Banking 55