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Five Law Firms (USA) Publish Articles On Latest Banking & Hemp Announcements

Cannabis Law Report

Articles are penned by Reinhart Boerner Van Deuren s.c., United States: Bank On Hemp: Federal Banking Regulators Loosen The Reins. New guidance to banks that wish to provide financial services to hemp-related businesses was released on December 3, 2019. Reinhart Boerner Van Deuren s.c. Miller & Martin.

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Article: Banks Are Redlining the 99% Out of the Legal Cannabis Industry

Cannabis Law Report

She emptied her 401(k) and plowed all of her late parents’ retirement savings into transitioning Fiddler’s Green, a former medical cannabis collective, into a licensed adult-use company. But because this is cannabis, bank loans are not an option. Read the full article at [link]. Instead, Hattan lives every day on edge.

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Article: California Poised to Empower Charter Banks to Bank Cannabis Money (SB 51)

Cannabis Law Report

The California legislature is currently considering a first-of-its kind urgency bill, SB 51, the “Cannabis Limited Charter Banking and Credit Union Law.” The law would empower privately insured charter banks and credit unions to be licensed as “cannabis depository institutions”, or “CDIs”, to bank California cannabis money.

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Article: Recap: Senate Committee Holds Hearing on Cannabis Banking

Cannabis Law Report

With this federal classification, the cannabis industry is isolated from banking and, in many cases, reduced to a cash-only venture. This business model inherently creates several issues, such as higher rate of theft, difficulty assessing and collecting taxes properly, and allowing bad actors to pose as legitimate.

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NYUP.com Article: Marijuana businesses and NY labor unions: Cannabis Insider Q&A

Cannabis Law Report

Since 2016, Local 338 has secured collective bargaining agreements with six of New York’s 10 registered medical marijuana companies , she said, and the union represents about 70% of the overall workforce — or roughly 500 employees. Local 338 is banking on that experience to entice cannabis workers throughout the emerging market.

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Article – National Law Review: House Vote on Cannabis Industry-Related SAFE Banking Act Scheduled for September 2019

Cannabis Law Report

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. Today’s cannabis industry encompasses the growth, processing, distribution, and other ancillary services related to both hemp and marijuana.

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Jordan Zoot Responds To Jeff Daniels article on AB 286, “California Proposes Slashing Cannabis Taxes to Help Regulated Industry Compete With Black Market.”

Cannabis Law Report

We decided to publish our thoughts as a consequence of Jeff Daniels article on AB 286, “California Proposes Slashing Cannabis Taxes to Help Regulated Industry Compete With Black Market.” We write to correct numerous errors in the article, although the issues AB 286 seeks to address are real. “We need to do better.”