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

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 283
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

How the Historic Passage of the SAFE Banking Act Could Benefit Patients

Americans for Safe Access

“The potential benefits that patients stand to gain from passage of the SAFE Banking Act are significant. Broader, more robust cannabis reform is still urgently needed, but the Act’s passage through the House is an encouraging sign that we are on the right path.” This week cannabis legislation made history.

Banking 148
article thumbnail

Pennsylvania Says Yes to Banking for Cannabis Businesses

Veriheal

Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. A Long Road to Cannabis Banking Reform.

Banking 115
article thumbnail

Oklahoma: Expanded Protections for Cannabis Patients to Take Effect

NORML

Legislation will take effect next week expanding protections for state-qualified medical cannabis patients. It strengthens patient protections by explicitly stipulating that registered cannabis consumers may not be denied public assistance, access to firearms, or certain types of employment solely based upon their patient status.

Patients 188
article thumbnail

Hemp-based insulation firm secures Scottish National Investment Bank funding

Cannabis Law Report

Carbon negative insulation for homes and commercial properties is to be produced in Scotland for the first time following a £3m investment in a pioneering green materials firm from the Scottish National Investment Bank.

Banking 105
article thumbnail

Pennsylvania Lawmakers Advance Medical Marijuana DUI Protections And Cannabis Banking Reform Bills

Cannabis Law Report

A Pennsylvania Senate committee on Tuesday approved a bill that would provide protections for medical marijuana patients against facing DUI charges unless they are actively impaired behind the wheel. And the full Senate separately passed a measure that to provide state-level protections for banks that work with cannabis businesses.

Banking 52