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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. Reform advocates , including NORML, had lobbied leadership to include banking reform in the latest COVID relief measure.

Packaging 297
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Understanding Cannabis Banking Challenges and How to Overcome Them

Connor & Connor PLLC

Since cannabis remains federally illegal, many banks, who run on a risk-based assessment, refuse to do businesses with cannabis companies. and Guam having fully legal operating cannabis markets under their own laws, banks are put in an awkward position because of the inconsistencies between state and federal law.

Banking 52
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FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

The recent surge in the cannabis industry has brought many eyes to witness its potential to grow the American economy. Every day, hundreds and thousands of people walk into cannabis dispensaries in legal states to purchase cannabis. These purchases have contributed to a large growth in the cannabis economy.

Banking 114
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Study: Cannabis Retailers Associated with Drop in Localized Crime

NORML

The establishment of regulated cannabis retailers is associated with a decrease in localized criminal activity, according to data published in the journal Regional Science and Urban Economics. ” The majority of crime reduction is due to a decrease in non-violent criminal activity. .”

Retail 221
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While Legalization Stalls, Some Push For Cannabis Banking Services

Cannabis Law Report

Dispensaries and other marijuana industry companies continue to have difficult time getting cannabis banking services. And because federal cannabis legislation appears stalled in the U.S. Senate, at least for the moment, some lawmakers are turning their attention to dealing with weed-related banking issues.

Banking 99
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How Inflation is Affecting Cannabis: Prices, Closures, and the Job Market

Veriheal

Since COVID-19 rocked the economy, cannabis businesses and supply chains claim to have been playing catch-up to get back to business as usual. However, the question remainsjust how bad has inflation been affecting cannabis prices, cannabis business closures, and jobs in the cannabis sector?

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NORML Issues Cannabis Policy Guidance For Lawmakers and Prosecutors For Protecting Public Health During COVID-19 Crisis

NORML

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.

Policy 309