article thumbnail

Senators Advance Cannabis Banking Reform Bill for First Time

NORML

Although members of the House have passed an earlier version of the legislation -- the SAFE Banking Act -- on seven prior occasions, today's vote marks the first time that Senate members have voted in favor of the measure. The post Senators Advance Cannabis Banking Reform Bill for First Time appeared first on NORML.

Banking 314
article thumbnail

SAFE Banking Act Reintroduced in House and Senate

NORML

“If cannabis businesses are to have any hope of operating safely, transparently, and in a manner that is competitive with the existing underground market, Congress must pass SAFE Banking now." The post SAFE Banking Act Reintroduced in House and Senate appeared first on NORML.

Banking 232
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Banking for Cannabis Growers

Canna Law Blog

Though many business owners may find banking to be a headache regardless of industry, few business owners have more hurdles to deal with than cannabis growers and dispensaries. The current state of cannabis banking can have a significant impact on where cannabis business owners keep their money and whether they obtain cannabis loans.

Banking 84
article thumbnail

Attorneys General Push for Marijuana Banking Reform

NORML

Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.

Banking 363
article thumbnail

FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Many financial institutions seek to be a part of the cannabis banking movement. According to quarterly data presented by the US Treasury Department, over 800 banks and credit unions have filed paperwork with the United States government to state their relations with cannabis businesses. This marks a significant increase from last year.

Banking 114
article thumbnail

Survey: Most Voters Support Federal Banking Reforms for Licensed Marijuana Retailers

NORML

“Americans understand that no industry can operate safely, transparently, or effectively without access to banks or other financial institutions and it is self-evident that this industry, and those consumers that are served by it, remain severely hampered without this access.".

Banking 231
article thumbnail

NORML Calls on Senators to Advance Cannabis Banking Legislation

NORML

The post NORML Calls on Senators to Advance Cannabis Banking Legislation appeared first on NORML.

Banking 200