House Reintroduces SAFE Banking Act To Normalize Cannabis Commerce

NORML

The Secure and Fair Enforcement (SAFE) Banking Act has been reintroduced in the House of Representatives by Representatives Ed Perlmutter (D-CO), Steve Stivers (R-OH), Nydia Velazquez (D-NY), and Warren Davidson (R-OH). Banking Business Policy

Attorneys General Push for Marijuana Banking Reform

NORML

In their letter , AGs opine: “The current predicament of a rapidly expanding national marketplace without access to the national banking systems has resulted in an untenable situation. 2020 Banking Congress Attorney Generals banking safe

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Marijuana Banking Passes Critical Committee

NORML

In the first of what is anticipated to be multiple Congressional votes to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee will today voted to advance The SAFE Banking Act, HR 1595 , 45-15. No industry can operate safely, transparently, or effectively without access to banks or other financial institutions. Our federal banking laws were designed to prevent illicit activity and help law enforcement do their jobs.

Democrats’ Latest COVID Relief Package Includes Marijuana Banking Provisions

NORML

The latest COVID stimulus package proposed by House leadership maintains provisions permitting licensed cannabis businesses… The post Democrats’ Latest COVID Relief Package Includes Marijuana Banking Provisions appeared first on NORML. Banking COVID-19 News Releases Policy

Senate Banking Committee Holds Hearing On Cannabis Banking

NORML

Earlier today, the Senate Banking Committee held a hearing on the SAFE Banking Act, which would allow financial institutions to engage in activities with state-legal cannabis businesses. The hearing was entitled, “Challenges for Cannabis and Banking: Outside Perspectives.” Senator Jeff Merkley, the lead sponsor of the SAFE Banking Act. ” 2019 Banking GOVERNMENT

Cannabis banking reform included in latest Congressional COVID relief bill

Leafly

The SAFE Banking Act has been folded into the latest coronavirus relief measure. The post Cannabis banking reform included in latest Congressional COVID relief bill appeared first on Leafly. Politics cannabis banking Congress COVID-19 SAFE Banking Act

Senators Reintroduce SAFE Banking Act To Normalize Cannabis Commerce

NORML

Senators Jeff Merkley (D-OR) and Steve Daines (R-MT), along with 27 other members of the… The post Senators Reintroduce SAFE Banking Act To Normalize Cannabis Commerce appeared first on NORML.

Senate Proposed Coronavirus Relief Legislation Does Not Include Marijuana Banking Protections

MassRoots

In addition to the dramatic cuts to the weekly enhancements of state unemployment benefits and safety net programs proposed in the House’s version (The HEROES Act), the Senate’s package does not include language that would protect banks who service the legal cannabis industry.

Banking Compliance Tiers

Cannabis Law Report

In 2017, Fincann pioneered publication of recommended guidelines and protocols for compliantly and sustainable banking cannabis industry business customers, and… Read More.

Congressional Hearing On Marijuana Banking Held

NORML

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. NORML Political Director Justin Strekal published on op-ed on the topic in The Hill Newspaper, entitled Businesses need bank accounts — marijuana shops included. ACTIVISM Advocacy Banking ECONOMICS GOVERNMENT INDUSTRY Policy

Marijuana Banking Bill Scheduled For Committee Markup

NORML

In the first in what are anticipated to be multiple Congressional hearings to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. No industry can operate safely, transparently, or effectively without access to banks or other financial institutions. Send a message to your member of Congress in support of The SAFE Banking Act now!

The SAFE Banking Act Reintroduced

NORML

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. If enacted, banks would no longer face the threat of federal sanction for working with marijuana-related businesses and entrepreneurs.

Senate Banking Committee to Hear Testimony Regarding Need for Marijuana Reforms

NORML

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. Federal law and regulations currently discourage banks and other financial institutions from working directly with state-licensed cannabis businesses. GOVERNMENT LEGISLATION banking Congress credit financial services SAFE Banking

Cannabis Banking Act Begins Again

Cannabis Law Report

The Secure and Fair Enforcement (SAFE) Banking Act was reintroduced in the House of Representatives today. This bill, which was… Read More. Green Market Report

The SAFE Banking Act’s Reintroduction in 2021

HarrisBricken

This week, the SAFE Banking Act’s long-awaited reintroduction finally happened, and by a bipartisan group of over 100 members of the House and 30 members of the Senate (and counting!). The post The SAFE Banking Act’s Reintroduction in 2021 appeared first on Harris Bricken

House Passes Cannabis Banking Bill in Historic Vote

Leafly

A strong vote, 321-103, moves cannabis banking reform over a major hurdle. The post House Passes Cannabis Banking Bill in Historic Vote appeared first on Leafly. Politics banking CongressNow it's the Senate's turn.

Hemp Banking, CBD Banking, and Cannabis Banking: What’s The Difference?

Cannabis Law Report

The post Hemp Banking, CBD Banking, and Cannabis Banking: What’s The Difference? Hemp and cannabis are technically the same plant, but in the eyes of the law, they couldn’t be more different.… … Read More.

Holy Crapo! Cannabis Banking Reform Makes Surprise Headway

Leafly

Mike Crapo, the Senate banking committee chair, signals an openness to cannabis financial reform. Cannabis Banking Reform Makes Surprise Headway appeared first on Leafly. Politics banking CongressThe post Holy Crapo!

CCIA Calls For Help Supporting The SAFE Banking Act

MassRoots

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? SAFE Banking reduces cash motivated crimes.

Businesses Need Bank Accounts; Marijuana Shops Included

NORML

Imagine operating a business without a bank account. Imagine being forbidden from letting your customers pay for purchases with a credit card, or being able to ask a bank for a small business loan. No industry can operate safely, transparently, or effectively without access to reliable banking solutions. ” Legislation introduced by Rep’s Perlmutter and Heck known as the SAFE Banking Act sought to address this issue in the 115th Congress.

Why Would a CEO of a Successful Cannabis Company Commit Bank Fraud?

Veriheal

Jim Patterson, the former head of the Eaze cannabis delivery company , has pleaded guilty to committing bank fraud while he was still active as CEO. Why Commit Bank Fraud? The post Why Would a CEO of a Successful Cannabis Company Commit Bank Fraud?

Another Step Forward for Cannabis Banking

Greenspoon Marder Cannabis Law Group Blog

Cannabis Banking. On Tuesday July 23, the Senate Committee on Banking, Housing, and Urban Affairs will discuss the growing need to provide banking services to cannabis businesses. The scheduled hearing, titled “Challenges for Cannabis and Banking: Outside Perspectives” has surprised some in the industry considering that Idaho Senator and Senate Banking committee chairman, Mike Crapo, recently stated he would not consider giving this matter a hearing.

Cannabis Industry Optimistic on Banking Despite Murky Senate Prospects

Leafly

The bill, which the House passed 321–103 on Wednesday, is seen as a major win for banks, investors, and much of the legal cannabis industry. The post Cannabis Industry Optimistic on Banking Despite Murky Senate Prospects appeared first on Leafly. Industry Politics banking CongressWhat's next?

Article: Initiating a Hemp Banking Program

Cannabis Law Report

Here’s the introduction to a piece written by Jessica Caballero, CRCM, CERP for the ABA Banking Journal Industrial hemp is… Read More. The post Article: Initiating a Hemp Banking Program first appeared on Cannabis Law Report.

Why Is The SAFE Banking Act So Important?

MassRoots

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. Why is the SAFE Banking Act so important?

In Congress, a Changed House Finally Looks at Cannabis Banking

Leafly

After midterm elections that changed the cannabis equation in Congress, the US House is taking up a key issue: banking and other financial services for the new industry. The post In Congress, a Changed House Finally Looks at Cannabis Banking appeared first on Leafly. Industry Politics banking Congress laws legalization

House COVID Package Includes Cannabis Banking Relief, But Not Small Business Support

NORML

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.

The State Of Cannabis Banking 2021

Cannabis Law Report

The post The State Of Cannabis Banking 2021 first appeared on Cannabis Law Report. THE PRICE – Free? THE DATE – Wednesday 24 February 2021 THE RATING – THE BLURB – Green Market Report… Read More.

Congress Eyes New Way to Allow Cannabis Banking, DC Sales

Leafly

Provisions in a proposed federal spending bill would protect banks that work with the cannabis industry and would finally allow Washington, DC, to greenlight retail cannabis sales. The post Congress Eyes New Way to Allow Cannabis Banking, DC Sales appeared first on Leafly. Politics banking legislation Washington DC

Hemp Banking for Credit Unions: Five Key Questions

HarrisBricken

Back when we first started working with small, Northwest credit unions in 2014 and 2015 (on the THC banking side) we never imagined being hired one day by the federal government itself on cannabis-related matters. What kinds of businesses are you willing to bank?

Bank On It: One Step Closer to Cannabis Business Banking

Greenspoon Marder Cannabis Law Group Blog

The SAFE Banking Act is sponsored by Reps. and would allow banks and credit unions to work with growers, dispensaries and other marijuana-related businesses. Business owners and operators have struggled with the banking crisis since legalization in their respective states, and the pressure has increased recently with reports of banks shutting down cannabis- and hemp-related business bank accounts. By: Rachel Gillette , Partner and Cannabis Law Practice Chair.

Best Cannabis Seed Bank In 2021

Cannabis Law Report

Whether you’re looking for your favorite strain with marijuana seeds , the most important thing is to get quality from a seed bank you can … Read More. The post Best Cannabis Seed Bank In 2021 first appeared on Cannabis Law Report.

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

Leafly

And not a bank in the nation will offer a small business loan. The post Banks Are Redlining the 99% Out of the Legal Cannabis Industry appeared first on Leafly. Industry Politics banking diversity legalizationIt can cost $2 million to open a licensed cannabis store.

Courting Crapo: Today’s Senate Banking Hearing Was All for One Man

Leafly

The SAFE Banking Act won't pass until Senate banking chair Mike Crapo allows it. The post Courting Crapo: Today’s Senate Banking Hearing Was All for One Man appeared first on Leafly. Industry Politics banking Congress legalization legislationSo today's hearing was aimed at swaying his vote.

Lawyers For Eaze Defendents Says Big Banks Happy To Look The Other Way On Cannabis Transactions , Jury Convicts

Cannabis Law Report

Banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and… Read More. Cannabis Law News

Pair convicted in bank fraud case related to cannabis transactions

SpeedWeed

Two businessmen indicted in 2020 for defrauding merchant banks on behalf of California cannabis delivery company Eaze have been convicted by a Manhattan jury. The post Pair convicted in bank fraud case related to cannabis transactions appeared first on SpeedWeed.

What's Next for Cannabis Banking?

MJ Business Attorneys

The California Legislature passed Senate Bill 51 last week, allowing California state-chartered banks and credit unions to provide banking services for the states’ cannabis businesses. million California residents, but will it be a powerful enough move to help sway the Senate Banking Committee and Chairman Michael Crapo to move forward on the SAFE Banking Act? The banking struggle is not limited to California.