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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. MORE
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 MORE
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. MORE
In the proposed FY22 Financial Services and General Government spending bill, which includes provisions relating… The post House Appropriations Bill Removes Anti-Marijuana Rider and Includes Banking Protections appeared first on NORML. MORE
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. MORE
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. MORE
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 MORE
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 MORE
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 MORE
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? MORE
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 MORE
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 MORE
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 MORE
Will Federal Reform or Cannabis Banking Pass First In The U.S.? Green Entrepreneur MORE
While these products are no longer illegal (notably a different definition than “legal”), most banks have been hesitant to jump in, citing the lack of framework from the compound’s new agencies of oversight: the USDA and the FDA. What can change CBD banking? MORE
Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Timberland Bank. MORE
Most of us buy stuff digitally today, whether we are paying by card, banking app, or mobile payments app. . Most banks will not do business with cannabis merchants, either. Fortunately, you can now sign up for KindPay by KIND Financial and Herring Bank. MORE
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 MORE
Cannabis Banking Bill May Pass This Year. Green Entrepreneur MORE
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? MORE
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. MORE
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! MORE
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. MORE
Marijuana Banking Is Stabilizing In The U.S. Green Entrepreneur MORE
Majority Leader Hoyer on Friday announced that members of the House are anticipated to hold a floor vote next week on The SAFE Banking Act (HR1595), which explicitly permits banks and other financial institutions to work directly with state-legal marijuana businesses. “The upcoming banking vote is an important first step by Congress, but in no way should it be the last,” said NORML Political Director Justin Strekal. 2019 Banking Business GOVERNMENT MORE
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. MORE
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 MORE
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 MORE
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. MORE
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! MORE
Most cannabis businesses are not allowed to bank like other legal businesses nor do they get the same protections. While the IRS Mafia can show up at a cannabis business doorstep demanding to be paid taxes in cash in full, cannabis businesses can’t take their cash to the bank. MORE
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. MORE
These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank. What are some of the issues that impact an MSO’s ability to access banking? MORE
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. MORE
In 2017, Fincann pioneered publication of recommended guidelines and protocols for compliantly and sustainable banking cannabis industry business customers, and… Read More. MORE
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. MORE
There’s no longer a banking problem in cannabis,” says Nathaniel Gurien, the CEO of Fincann.… … Read More. Green Entrepreneur MORE
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 MORE
Banking Related Topics NORML
MAY 19, 2020
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
NORML
MARCH 18, 2021
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
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NORML
MARCH 28, 2019
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.
NORML
SEPTEMBER 28, 2020
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
NORML
JULY 23, 2019
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
Leafly
MAY 12, 2020
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
MassRoots
JULY 30, 2020
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.
NORML
FEBRUARY 14, 2019
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
NORML
MARCH 19, 2019
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!
Cannabis Law Report
MAY 14, 2021
There’s no longer a banking problem in cannabis,” says Nathaniel Gurien, the CEO of Fincann.… … Read More. Green Entrepreneur
NORML
MARCH 8, 2019
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.
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NORML
JUNE 23, 2021
In the proposed FY22 Financial Services and General Government spending bill, which includes provisions relating… The post House Appropriations Bill Removes Anti-Marijuana Rider and Includes Banking Protections appeared first on NORML.
NORML
JULY 17, 2019
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
NORML
MARCH 23, 2021
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.
Cannabis Law Report
JULY 19, 2021
Marijuana Banking Is Stabilizing In The U.S. Green Entrepreneur
Cannabis Law Report
APRIL 4, 2021
In 2017, Fincann pioneered publication of recommended guidelines and protocols for compliantly and sustainable banking cannabis industry business customers, and… Read More.
Cannabis Law Report
JULY 18, 2021
Will Federal Reform or Cannabis Banking Pass First In The U.S.? Green Entrepreneur
Cannabis Law Report
JUNE 4, 2021
These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank. What are some of the issues that impact an MSO’s ability to access banking?
Leafly
SEPTEMBER 25, 2019
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.
Cannabis Law Report
MARCH 18, 2021
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
Leafly
AUGUST 5, 2019
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!
Cannabis Law Report
JUNE 20, 2021
Cannabis Banking Bill May Pass This Year. Green Entrepreneur
NORML
FEBRUARY 13, 2019
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.
Greenspoon Marder Cannabis Law Group Blog
JULY 19, 2019
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.
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? SAFE Banking reduces cash motivated crimes.
HarrisBricken
MARCH 27, 2021
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
Cannabis Law Report
JANUARY 21, 2021
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.
Leafly
SEPTEMBER 27, 2019
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?
MassRoots
JULY 28, 2020
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?
Cannabis Law Report
JUNE 25, 2021
While these products are no longer illegal (notably a different definition than “legal”), most banks have been hesitant to jump in, citing the lack of framework from the compound’s new agencies of oversight: the USDA and the FDA. What can change CBD banking?
Cannabis Law Report
JULY 1, 2021
Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Timberland Bank.
Leafly
FEBRUARY 13, 2019
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
Veriheal
MAY 11, 2021
Most cannabis businesses are not allowed to bank like other legal businesses nor do they get the same protections. While the IRS Mafia can show up at a cannabis business doorstep demanding to be paid taxes in cash in full, cannabis businesses can’t take their cash to the bank.
SpeedWeed
JULY 23, 2021
Most of us buy stuff digitally today, whether we are paying by card, banking app, or mobile payments app. . Most banks will not do business with cannabis merchants, either. Fortunately, you can now sign up for KindPay by KIND Financial and Herring Bank.
Greenspoon Marder Cannabis Law Group Blog
MARCH 28, 2019
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.
NORML
MAY 12, 2020
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.
Leafly
JUNE 3, 2019
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
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