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 119

Canna Law Blog

JULY 22, 2019

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

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Banking Legislation Safety Access 107

Cannabis Chronicles

MAY 8, 2019

banking system to the legal marijuana industry. But most banks don’t want anything to do with money from the cannabis industry for fear it could expose them to legal trouble from the federal government, which still considers marijuana illegal. Most Americans live in states where marijuana is legally available in some form.

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Banking Access Collective Business 100

Cannabis Law Report

AUGUST 30, 2021

Dispensaries and other marijuana industry companies continue to have difficult time getting cannabis banking services. Senate, at least for the moment, some lawmakers are turning their attention to dealing with weed-related banking issues. Why Marijuana Banking Changes Are Needed. It’s something he’s pushed for since 2013.

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Banking Legalization Dispensary Legislation 99

NORML

FEBRUARY 27, 2019

Currently, almost none of the businesses operating in the cannabis space can legally obtain a bank account, process a credit card, or take a standard business deduction on their federal taxes. “And when these businesses are forced to operate exclusively in cash, they create serious public safety concerns.”

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Banking Policy Business Safety 163

NORML

JANUARY 19, 2020

House Bill 1359 would create a 5 year medical marijuana pilot program, allowing patients to access their medicine from licensed dispensaries. Send a message to your lawmakers in support of medical marijuana access. Legislation is pending, Senate Bill 697, to expand access to medical marijuana. IN resident? NH resident?

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Legislation Decriminalization Access Patients 256

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. If Congress fails to act, we are discouraging responsible, regulated markets and allowing a serious public safety threat to go unaddressed.”. Stay tuned.

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Banking Marijuana Safety Business 86

Veriheal

MAY 16, 2025

Another factor at play for cannabis consumers is that dispensaries are cash-only businesses due to current federal banking laws , eliminating the option to use credit to make their purchases. Oversight and Insurance Access to banking isnt the only thing affecting cannabis business profits.

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Supply Chain Compliance Compliance Dispensary 83

Veriheal

APRIL 17, 2025

Groups like SAM claim to work in the interest of public health and safety first and foremost, perhaps to distance themselves from the prejudicial roots of anti-legalization in the past. ” SAM is a prominent opponent of legalization by individual states, as well as federal efforts to legalize and provide access.

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Legalization Access Policy Banking 76

SpeedWeed

FEBRUARY 18, 2019

lawmakers are once again exploring efforts to allow legal cannabis businesses access to banks. The Democratic-controlled House Financial Services Committee on Wednesday held a hearing to discuss the Secure and Fair Enforcement Banking Act of 2019, also known as the SAFE Banking Act, reports Yahoo Finance.

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Banking Business Marijuana Safety 61

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. It now awaits consideration by the U.S.

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Legislation Decriminalization Hemp Patients 196

Canna Law Blog

APRIL 1, 2019

After its introduction on Tuesday, March 26, 2019, the House Financial Services Committee has voted 45-15 to advance the SAFE Banking Act of 2019 to the House floor on a to-be-determined date. Currently, the Safe Banking Act has 152 cosponsors, including 12 Republicans, which is more than one-third of the entire House of Representatives.

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Banking Marijuana Legislation Business 78

NORML

MARCH 8, 2019

This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. CO resident?

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Legislation Patients Access Seed-To-Sale 193

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. Unbanked cannabis businesses often operate solely in cash, creating a significant risk to public safety,” said Treasurer Dave Young. ”By

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Banking Safety Business Cannabis 69

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

NORML

FEBRUARY 22, 2019

Update : HB 2149 was approved by the Public Safety Committee on 2/20. Legislation is pending, Senate Bill 305, to permit qualified patients the ability to access medical cannabis preparations while in health care facilities. Click here to email your lawmakers in support of access in healthcare facilities. AZ resident?

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Legislation Hemp Compliance Compliance 193

The Blunt Truth

DECEMBER 9, 2021

It looks like marijuana banking will not be part of the NDAA. marijuana banking. Advocates of allowing the banking industry to serve cannabis businesses have seen many opportunities to enact legislation come and go. Lawmakers introduced a bill to require the FDA to regulate CBD. Although many are disappointed, including Rep.

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Banking Food CBD Legislation 115

The Blunt Truth

MAY 15, 2020

The big news this week is that cannabis banking is included in the latest federal relief bill. cannabis banking. Whether the Senate will retain this language, considering that they have taken no action on the SAFE Banking Act, is not certain. SBA funds, however, are not. There’s also lots of state news. ” sba loans.

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Banking Research and Development Programs Advocacy 106

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

SpeedWeed

MARCH 20, 2021

The US House just reintroduced the Secure and Fair Enforcement ( SAFE ) Banking Act, an act that if passed, would help the cannabis industry have access to financial services. Because cannabis is still federally illegal, cannabis businesses have difficulty accessing banking , credit card processing, and business deductions for taxes.

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Banking Legalization Safety Access 52

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

SEPTEMBER 25, 2019

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.

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Banking Safety Compliance Compliance 55

NORML

MARCH 22, 2019

House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Legislation is pending, Senate Bill 59, to expand medical cannabis access. Legislation is pending, House Bill 673 / Senate Bill 1430, to expand medical cannabis access. DE resident? HI resident?

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Legislation Hemp Patients Compliance 157

Cannabis Law Report

DECEMBER 19, 2019

He’s demanding more studies and much tighter rules around banking and the crop. Chairman Crapo Outlines Concerns with Cannabis Banking Legislation. Requests feedback on potential changes to address public health and safety issues. I also do not support the SAFE Banking Act that passed in the House of Representatives. .

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Banking Legalization Safety Research and Development 71

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.

Banking 52

Banking Hemp Business Access 52

Medicinal Genomics

SEPTEMBER 27, 2019

There’s access to capital, to which the cannabis industry has practically none. Venture capital funding, credit, loans and even rudimentary banking services are taken for granted in other markets, but not in the cannabis industry. Testing labs routinely have their “banking” shut down. Better Banking = Safer Cannabis.

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Vaping Banking Supply Chain Safety 102

Cannabis Law Report

MAY 17, 2019

The Sacramento Bee reports……The survey found that 82 percent of surveyed bank executives support Congress passing a law allowing financial institutions to do business with cannabis companies, a practice that is restricted because marijuana is considered an illegal narcotic at the federal level. would likely open up their services.

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Access Banking Safety Events 55

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

SpeedWeed

FEBRUARY 15, 2019

Six years after introducing the Secure and Fair Enforcement (SAFE) Banking Act, a cannabis banking reform measure, co-author Denny Heck finally saw it enjoy its first committee hearing in Congress on Wednesday. Here’s How Cannabis Companies Are Banking Legally on the Down Low. “We are all late,” Rep. .

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Banking Dispensary Safety Seed-To-Sale 53

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

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

OCTOBER 21, 2021

Seattle-based cannabis banking startup Shield Compliance is beefing up its staff. Before her role at Shield, Cantrell spent more than 12 years at the Republic Bank of Chicago. She has 20 years of banking experience, the company said. Cantrell is the new executive vice president of payments and strategic alliances.

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Banking Compliance Compliance Business 52

Cannabis Law Report

FEBRUARY 14, 2020

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. Without banking services, U.S. This is not a partisan issue, or a regional issue.

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Banking Safety Environment Business 45

Cannabis Chronicles

MAY 22, 2019

This partnership with WSU and Qwibil will help us research the safety and efficacy of cannabis as medicine for our patients’ use.”. McDonell said research institutions are limited in their access to cannabis users by federal laws that could affect funding. The clinic serves native and non-native patients, according to the news release.

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Medicine Research and Development Data Collective 140

Cannabis Law Report

JUNE 21, 2021

Here’s their letter to the Chair and Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee. MERKLEY, DAINES URGE COLLEAGUES TO BUILD PATHWAY FORWARD FOR BIPARTISAN LEGISLATION TO ENSURE THAT LEGAL CANNABIS BUSINESSES CAN ACCESS CRUCIAL FINANCIAL SERVICES. Thursday, June 17, 2021. Washington, D.C.

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Banking Legislation Safety Dispensary 51

WeedAdvisor

SEPTEMBER 21, 2019

With cannabis reform sweeping across the country, measures life the SAFE Banking Act are welcome by many financial institutions and members of the cannabis industry. This will certainly open up a world of opportunity, safety and convenience to beleaguered dispensaries everywhere. This leaves the SAFE Banking Act standing on its own.

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Banking Advocacy Legislation Dispensary 49

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