Cannabis Law Report

DECEMBER 7, 2021

Congress is making another run at providing a safe harbor to the banking industry and companies that provide services to cannabis businesses. Members of Congress have introduced the SAFE Banking Act or similar legislation in prior Congresses. Arnold & Porter. credit card companies). Protect all service providers (e.g.,

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Banking Compliance Compliance Business 52

Cannabis Law Report

OCTOBER 31, 2019

Law Firm Manatt, Phelps & Phillips, LLP writes… The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships.

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Banking Compliance Compliance Policy 45

Canna Law Blog

DECEMBER 24, 2019

Our firm represents a number of financial institutions and even a federal agency on banking state-legal cannabis. The number one question we have received lately is: “do you know a bank or credit union that will bank my hemp-CBD business?” And here’s why.

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Banking Hemp CBD Cultivation 73

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

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Banking Hemp Marijuana Events 40

Canna Law Blog

APRIL 14, 2019

The SAFE Banking Act just got a new, prominent supporter – on April 9, 2019, Treasury Secretary Steven Mnuchin pledged to take a look at the legislation that would allow financial institutions to service cannabis businesses. As we’ve previously written about, there have been several calls for clarity on this banking issue.

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Banking Legislation State Laws Business 71

Veriheal

OCTOBER 22, 2021

Most New Yorkers can now safely indulge in cannabis without fear of being fired, Bank of America is under fire for closing the account of an authorized cannabis research institute, and proposed legislation could help Washington, D.C. finally see recreational cannabis sales. Let’s dive into this week’s cannanews.

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Banking DEA Recreational Packaging 99

NORML

MARCH 7, 2019

Our archaic and outdated marijuana laws are turning everyday Americans into criminals. Every day, the economic and social impacts of marijuana prohibition are having devastating effects on communities across the country. Millions of people have been arrested for the possession or use of marijuana. SEND A MESSAGE NOW.

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Legislation Marijuana Banking Safety 235

Cannabis Law Report

JANUARY 5, 2022

StandardC, a leader in cannabis & marijuana banking and financial services, announced today that its lending partner had closed the first $5 million loan from their newly established $200M fund for a leading marijuana cultivator using the StandardC platform. SOURCE StandardC.

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Banking Marijuana Compliance Compliance 52

Canna Law Blog

JULY 7, 2020

The FinCEN Guidance centers on due diligence requirements as related to the Bank Secrecy Act (BSA). The purpose of that statement was to to help financial institutions deal with BSA and anti-money laundering (AML) compliance in light of the fact that hemp is no longer a Schedule I controlled substance under federal law.

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Banking Hemp Compliance Compliance 54

NORML

FEBRUARY 27, 2019

As the tentacles of the federal policy of cannabis prohibition run deep into nearly every sector of American public policy, a new voice emerged to call for clarity regarding state-legal cannabis marketplaces: Federal Reserve Chair Jerome Powell.

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Banking Policy Business Safety 141

Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. This problem doesn’t just affect the cannabis industry.

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Banking Cannabis Business Safety 40

The Joint Blog

FEBRUARY 20, 2019

Legislation that would protect banks who provide services to medical marijuana businesses has been passed by the full West Virginia House of Delegates. “The purpose of this section is to provide a solution to the banking problems encountered by the state in connection with the Act.”

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Banking Marijuana Collective State Laws 48

Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

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Banking Data Media Business 40

NORML

MARCH 20, 2020

That is why this week, NORML reached out to our numerous allies on Capitol Hill to ensure that any Unemployment Insurance aid packages considered by Congress provide relief to cannabis-industry personnel who have been or will be either furloughed from their jobs. even if the business is legal under local or state law.”

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Business Legislation Access Policy 337

Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications.

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Banking Safety Business History 45

MassRoots

FEBRUARY 11, 2019

Legislation to end the federal prohibition of cannabis has been submitted in the U.S. The American people have elected the most pro-cannabis Congress in American history and significant pieces of legislation are being introduced,” said Blumenauer. “I 420, my bill to legalize and responsibly regulate and tax marijuana.

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Legalization Marijuana Legislation Policy 111

Cannabis Law Report

SEPTEMBER 24, 2019

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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Banking Law Compliance Compliance 40

Canna Law Blog

JUNE 22, 2023

This Friday June 23rd, Harris Bricken’s Griffen Thorne will present on international and domestic cannabis issues with Dan Rothberg at GGI Global Alliance’s North American Regional Conference in Los Angeles. states have began to relax or repeal local cannabis prohibitions in spite of federal and international prohibitions.

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Banking Access Topical State Laws 56

The Blunt Truth

JULY 30, 2019

Last week, several members of Seyfarth’s cannabis practice attended CannaVest West and the Cannabis Business Summit & Expo. Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate.

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Banking Hemp Cannabis Access 78

Cannabis Law Report

OCTOBER 3, 2019

Colorado’s top federal prosecutor says that he would never tell banks working with legal marijuana businesses in the state that they are devoid of criminal liability. . “As As federal prosecutors,” Jason Dunn told The Colorado Sun on Tuesday, “we will never tell them that what they are doing is lawful under federal law.

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Banking Retail State Laws Business 40

Cannabis Law Report

SEPTEMBER 20, 2019

Mj Biz report…… A bill that would create a federal safe harbor for financial institutions to serve state-lawful cannabis businesses and ancillary companies will be put to a landmark vote in the U.S. Hoyer, D-Maryland, announced on the House floor that he will schedule the SAFE Banking Act for a vote.

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Banking Collective State Laws Policy 45

Cannabis Law Report

AUGUST 26, 2019

Currently, thirty-three states, the District of Columbia, Guam and Puerto Rico have all legalized the use of marijuana to some degree. The rift between federal and state law has left banks trapped between their mission to serve the financial needs of their local communities and the threat of federal enforcement action.

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Banking Cannabis Events Law 59

Cannabis Law Report

JUNE 30, 2021

But, if marijuana-related businesses, in recognition of this, hire armed guards for protection, the owners and the guards might run afoul of a federal law that imposes harsh penalties for using a firearm in furtherance of a “drug trafficking crime.” Cash-based operations are understandably enticing to burglars and robbers.

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Banking Strains Law State Laws 102

The Joint Blog

MARCH 5, 2020

The American Bar Association (ABA), which was founded in 1878 a voluntary bar association of lawyers and law students, has approved two marijuana-related resolutions during its mid-year meeting. A bill that would do just that was approved by the House of Representatives last year, but it’s currently stalled in the Senate.

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Banking Marijuana Compliance Compliance 52

NORML

JANUARY 19, 2020

The US House Energy and Commerce Subcommittee on Health will hold a legislative hearing entitled “Cannabis Policies for the New Decade.” ” This marks the first time that members of the Energy and Commerce Committee will hear and debate issues specific to marijuana policy reform. CO resident? FL resident? IN resident?

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Legislation Decriminalization Access Patients 247

Canna Law Blog

MARCH 20, 2023

We’ve written regularly about the plight of cannabis businesses not being able to secure traditional lending (and other financial services) from major, federally regulated institutions. Why aren’t banks more involved? Despite adoption by a growing number of states, marijuana is (still) federally illegal.

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Business Banking Compliance Compliance 73

The Blunt Truth

SEPTEMBER 3, 2020

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Medical marijuana will be on the ballot in Nebraska. Florida has legalized medical marijuana edibles. Evnen said the measure met all legal requirements, but he expected a legal challenge from cannabis opponents.

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DEA CBD Banking Edibles 98

Cannabis Law Report

JUNE 3, 2021

For decades, the marijuana industry has been fighting stigmatizing rhetoric, the war on drugs, the smuggler and back alley feel, varying state laws, continued federal prohibition, lack of access to traditional banking, and on and on. To say that marijuana has fought an uphill battle is an understatement.

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Cannabis Law Report

JUNE 1, 2022

POSTED IN ALABAMA , MEDICAL MARIJUANA , STATE LAW DEVELOPMENTS. Only three months – 90(ish) days – until the Alabama Medical Cannabis Commission is scheduled to begin accepting applications for licenses. For many, it feels like Alabama’s medical cannabis program has been a work in progress for years.

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Programs Banking Cultivation Patients 52

Canna Law Blog

NOVEMBER 17, 2021

It was the first conference for the ABA’s new Global Cannabis section and the first live event I’ve done since COVID started. The panel discussed “Legal Ethics in International Cannabis.” ” My colleague Adams Lee participated too, but on another panel covering the international cannabis trade.

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Canna Law Blog

OCTOBER 30, 2019

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.

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Business Banking Programs Compliance 43

NORML

FEBRUARY 22, 2019

Delaware prosecutors will no longer be encouraged to pursue criminal charges against those who possess marijuana for personal use, according to guidelines issued by the state’s new Attorney General. Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE.

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Legislation Hemp Compliance Compliance 181

Cannabis Law Report

NOVEMBER 6, 2021

As cannabis continues to make its way into the mainstream marketplace, state governments are increasingly legalizing and regulating it for medical or recreational use. The legal cannabis, or marijuana, marketplace represents a projected $21.7 It is important to work with only licensed marijuana operators, Velazquez said.

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Banking THC Hemp Cannabis 52

Connor & Connor PLLC

MAY 11, 2018

There are generally a couple of routes marijuana establishments take to getting insured; owners may use insurance companies that specifically cater to the cannabis industry or, alternatively, they may secure insurance through more traditional insurers willing to carry the risk. Popular Marijuana Insurance Companies.

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Marijuana State Laws Banking Dispensary 56

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. state and federal regulation of marijuana.

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Cannabis Law Report

JUNE 27, 2019

Financial institutions looking to work with cannabis companies have a lot to look forward to this summer. On June 11, 2019, the House Appropriations Committee passed spending legislation which provides new protection to financial institutions that provide banking services to marijuana businesses.

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Legislation Banking State Laws Business 40

Cannabis Law Report

MARCH 5, 2020

Maine pushes the target date for adult-use marijuana sales back by 3 months, and lowers its projected sales tax revenue for the fiscal year that ends June 30. Maine is planning to have its first recreational marijuana shops open in June, three months later than expected. BEFORE MARIJUANA MARKET OPENS. Says the Press Herald.

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Dispensary Safety Conditions Banking 59