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The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. You can share the op-ed on Facebook by clicking here and on Twitter by clicking here.
It is more important than ever that essential cannabis retailers have equal access to banking and small business financial assistance. In this guide, NORML highlights various online tools to assist reformers in their advocacy endeavors. Thank you for your continued advocacy and support. Here’s how. The team at NORML.
Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of 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. But we are not done. In fact, we’re just getting started.
NORML Canada launches official Post-Legalization platform to focus advocacy efforts on reforming Canada’s legal Cannabis system. 4) US relations – border & banking. Removal of any unnecessary international banking/travel barriers for legal business and cannabis entrepreneurs. 1) Increased Access.
Today, NORML and it’s national network of advocacy chapters released a memo to state lawmakers, regulators, prosecutors, and other interested parties providing guidance for how they can take emergency actions to better promote the health and welfare of cannabis consumers and the general public during the COVID pandemic.
Members of the House of Representatives voted today in favor of a stand-alone piece of legislation, The SAFE Banking Act, to remedy the ongoing inconsistencies between state and federal marijuana laws. The post US House Passes Bill To Normalize Adult-Use Cannabis Commerce appeared first on NORML.
Just one week ago, the SAFE Banking Act passed once again in the U.S. House of Representatives with overwhelming, bipartisan support by a vote of 321 to 101, with every Democrat and the majority of Republicans voting in support.
Despite Canadian cannabis legalization, banking for cannabis producers and operators is still a struggle. With seven branches in British Columbia, they’ve won two awards from the Canadian Marketing Association for cannabis advocacy. When you’ve got a cannabis credit union in your corner, nothing seems impossible.
Cory Booker may be willing to support cannabis banking. Sounds great for the advocacy group backing the measure, right? booker and banking. He’s also been on record opposing marijuana banking legislation. Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana.
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.
Legislation is pending, House Bill 2980 / Senate Bill 2023, to amend the Illinois Banking Act and the Illinois Credit Union Act in a manner that facilitates banks and other financial institutions to safely conduct transactions with licensed marijuana businesses. Click here to email your lawmakers in support of banking access.
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. However, top Democratic Senator Chuck Schumer feels that the SAFE Banking Act is insufficient and potentially detrimental to legalization. Good Bill, Poor Timing. .
We have spent considerable time reviewing the cannabis banking operation and remain very impressed with how these businesses have been served,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern and Eastern Bank. “We Terms of the transaction, which are not material to Eastern, were not disclosed.
A group of cannabis advocacy and industry organizations sent a letter to Congress today urging lawmakers to include the Secure and Fair Enforcement (SAFE) Banking … Read More.
Due to the plant’s illegal status, banking cannabis business revenue can be tricky. “Financial institutions providing banking services to legitimate and licensed cannabis businesses under state laws are subject to criminal prosecution under several federal statutes,” reads a statement from the office of Perlmutter.
Despite the 2018 US Farm Bill clearly permitting financial transactions in the hemp industry, many banks and other financial institutions have been slow to participate, blaming their fear of the risk of federal regulatory crackdowns.
Giant Joint Deployed in Campaign for Cannabis Banking Bill. Cannabis advocacy groups targeted the Senate on Tuesday to get the Republican leadership to take up marijuana legislation they describe as a first step toward full legalization. Bloomeberg report. We need federal regulations for that. Read more at [link].
CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Require federal banking regulators to identify best practices to achieve racial equity in financial services. 21 Pages Posted: 12 Aug 2022.
Much the way banks are unwilling to finance cannabis startups, television networks and online advertising marketplaces are understandably cautious because the Feds still classify marijuana as a Schedule 1 drug alongside heroin and ecstasy. Facebook, which like Google prohibits marijuana ads, has kicked some weed sellers off Instagram.
Other Advocacy Efforts Beyond the NAACP and UFCW, other organizations are also rallying for advancements in cannabis policy. Perrone believes this focus is crucial for recognizing the positive impact a worker-friendly cannabis industry can have on POC.
Legislation is pending, House Bill 2980, to amend the Illinois Banking Act and the Illinois Credit Union Act in a manner that facilitates banks and other financial institutions to safely conduct transactions with licensed marijuana businesses. Click here to email your lawmakers in support of banking access. IL resident?
MM reports House leadership confirmed on Friday that a bipartisan marijuana banking bill will receive a floor vote next week despite objections from several leading advocacy groups who want broader justice-oriented cannabis reforms to advance before what they see as an industry-focused proposal. Full story.
We expect to engage with industry leaders on important topics that will soon have a direct impact on our communities such as banking, taxation, criminal justice reform, and equity in ownership. Make an investment in our work by donating what you can.
Legislation is pending, A2210, to create a state bank to provide financial services to licensed marijuana business operating in accordance with state law. Send a message to your lawmakers in support of banking access. Send a message to your lawmakers in support of eliminating taxes on medical marijuana. NJ resident? New Mexico.
Update : SB 51 is scheduled for a hearing in the Assembly Banking And Finance Committee on 6/24/19. Click here to email your lawmakers in support of banking access. Legislation is pending, Senate Bill 51, to assist financial institutions in safely conducting transactions with licensed cannabis businesses. CA resident?
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.
In his home state of Pennsylvania, he is also a big man in advocacy. 18:40 – Are you hopeful for banking reform in cannabis if federal legalization doesn’t happen? Here’s the introduction to their piece. Standing at 6-foot 8-inches, John Fetterman is a big man in stature.
Duane Morris has provided corporate governance and capital formation advice on both public and private securities offerings on behalf of privately and publicly held cannabis companies, including serving as counsel in the first investment-bank-led public offering by a U.S. cannabis company.
In Florida as in elsewhere, the cannabis industry and advocates have been frustrated by a lack of access to banking. That dynamic has led several banks to block business with the industry altogether for fear of violating federal law. While some banks have begun opening their doors , others wait for clarity. Source: [link].
Senate Majority Leader Chuck Schumer (D-NY) held a meeting with a variety of marijuana reform and other advocacy groups last week to discuss social equity issues as he prepares to introduce a much-anticipated cannabis legalization bill this year. Marijuana Moment reports. communities of color.
Click here to email your lawmakers in support of banking access. Legislation is pending, Senate Bill 51, to assist financial institutions in safely conducting transactions with licensed cannabis businesses. Update : SB 51 is scheduled for a hearing in the Assembly Business And Professions Committee on 7/9/19. CA resident?
I’ll be moving to the Oregon Food Bank, who recruited me to work on a campaign to address the root causes of hunger (which is just about the only cause that would get me to leave this amazing organization). Here’s her message to members.
.” Cobb has been recognized for his efforts to gain support for the Secure and Fair Enforcement Banking Act, which will allow pot businesses to bank freely, like any other legitimate business. Full Report [link]. Here’s his bio on his law firm page. WHO WE ARE. Brady Cobb.
CBD Goddess is also giving 10% of sales back during the month of June back of its Goddess Bliss Beans to The Los Angeles LGBT Center , a provider of programs and services for lesbian, gay, bisexual and transgender people whose work spans four categories, including health, social services, housing, leadership and advocacy. Baker’s Cannabis Co.
House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Click here to email your lawmakers in support of banking access. If passed, this legislation would allow banking institutions and credit unions to organize as limited charter cannabis financial institutions.
In addition to the gaps between state and federal law, an obstacle course of regulatory hoops to jump through, banking barriers, branding, and countless other headaches. In addition to our advocacy in the courtroom, we have long represented clients in the legal cannabis business world.
Candidate should have a strong background in research, writing, and oral advocacy as well as effective problem solving and communication skills. Knowledge of public work and fund formation, securities law, and tech are a plus.
“The industry is spending millions on lobbying at the federal level, mostly on the banking issue,” said Dan Riffle, a former lobbyist with the Marijuana Policy Project who now serves as a senior policy advisor to New York Congresswoman Alexandria Ocasio-Cortez. Based on initial filings, spending in 2019 will easily surpass that amount.
Legislation is pending, House Bill 2980 / Senate Bill 2023, to amend the Illinois Banking Act and the Illinois Credit Union Act in a manner that facilitates banks and other financial institutions to safely conduct transactions with licensed marijuana businesses. Click here to email your lawmakers in support of banking access.
“A local marijuana advocacy group in Rochester, NORML, and other community groups released a report that found Monroe County had the fifth-highest arrest rates for low-level marijuana-related offenses in the state, outside of New York City.” Follow NORML on Facebook , Instagram and Twitter and become a member today !
We held a press conference with our National NORML Political Director, Justin Strekal, a voter registration event at 7th & Carson in downtown Las Vegas, and even did phone banking to encourage voting in primaries all throughout May. July 2018: Social Use Venue Advocacy. June 2018: Collected 79 Candidate Surveys from across Nevada.
She speaks to Heather from Morocco, where she’s on business, about standards in the industry, their response to the Schumer bill, banking in the industry, equity in the industry and the importance not only of US standards in the cannabis sector but international standards too as other markets begin slowly to open.
This is one of the stranger stories concerning cannabis and media that we’ve seen and somewhat concerning.Hillcrest Agro-Alied Industry, is one of the group of companies owned by a former Deputy Governor of Central Bank of Nigeria (CBN), Mrs. Sarah Alade.
Launched in 2021, the USCC says it “combines the collective resources of many of the largest cannabis companies, prominent advocacy organizations and hundreds of thousands of individuals.”
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