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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. So I would urge all of my colleagues so support H.R.
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. With 97.7% of the U.S. Thirty-three states, Washington, D.C.
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. Furthermore, a total of 33 states have enacted policies to establish a regulated medical cannabisprogram.
John Bel Edwards has signed a series of bills into law greatly expanding patients ability to access medical cannabis products. ” Under the current law , doctors may only recommend medical cannabis products to those patients with a limited number of select conditions, such as HIV and cancer.
New laws expanding the medical marijuana program in Louisiana went into effect on August 1. The state’s medical marijuana program has been criticized for being too limited and too restrictive since the program was established in 2016, but the three laws that went into effect on Saturday aim to improve the situation.
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 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 CannabisBanking Reform.
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. Why this clarification is important.
Here’s the press release… National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors.
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. SAFE Banking Act.
Expanding on its hemp exchange, cryptocurrency and cooperative farming program, Swissx is offering microloans for land and equipment in the Golden State Malibu, CA, July … Read More.
House and Senate lawmakers have approved a series of bills to facilitate patients’ access to medical cannabis products. ” Under the current law, doctors may only recommend medical cannabis products to those patients with a limited number of select conditions, such as HIV and cancer. John Bel Edwards.
National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors. Says the headline. Here’s the full press release.
According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans. Clarify that cannabis criminal records are not an automatic red flag. SSRN-id4188072.
When I founded Illinois News Joint , I made a conscious choice to include an altruistic aspect to the publication but for the first year could not decide on a program that fit what we do. I collaborated with partners, built recourses, and officially launched the program in April 2022. For Illinois News Joint reviews, click here.
TORONTO — Devastated bars and lounges, as well as the country’s hard-hit cannabis sector, will finally have access to $40 billion in new credit being made available via the government’s business bank during the COVID-19 crisis, its CEO said on Sunday.
A sprawling adult-use cannabis industry is taking root from coast to coast. 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?
Here’s the introduction to a piece written by Jessica Caballero, CRCM, CERP for the ABA Banking Journal Industrial hemp is… Read More. The post Article: Initiating a Hemp BankingProgram first appeared on Cannabis Law Report.
Unfortunately still the position for most banks and hemp. Shortly after the 2018 Farm Bill passed, legalizing industrial hemp, we predicted that banking services for hemp businesses would be slow going. Although some of our hemp clients are banked (and even have crop insurance) many others are still underserved. Senators, Sen.
Nearly four years ago, Illinois News Joint kicked off its A Friend Indeed program. As Illinois News Joint has expanded, the outreach for the A Friend Indeed program has, unintentionally, been pushed to the backburner, but we want to assure all Veterans and Veteran supporters that the program is still in full swing.
Our lead story addresses the ISO 17065 Accreditation of our PFC program and explains why PFC becoming the first cannabis certification body to have achieved this matters so much. You will also find out how to access the recorded panels from Unity 2021 to catch anything you missed.
This Act amends the Controlled Substances Act to reduce the number of instances in which federal law enforcement agencies could carry out legal actions against state-licensed cannabis businesses or other related enterprises. Governor Michelle Lujan Grisham (D) of New Mexico signed cannabis decriminalization legislation into law.
House of Representatives’ Small Business Committee will hold a hearing on Wednesday on the challenges and opportunities small businesses face in the cannabis industry. Governor John Bel Edwards (D) of Louisiana signed legislation into law giving patients the option to inhale medical cannabis through vaporization. California.
ARVADA – Governor Jared Polis and the Colorado Department of Regulatory Agencies (DORA) released a bold roadmap to provide clarity and guidance for state-chartered financial services industries that serve or seek to serve legal cannabis-related businesses. Roadmap to cannabis banking_January 2020. “As WATCH PRESS CONFERENCE.
The US House Energy and Commerce Subcommittee on Health will hold a legislative hearing entitled “Cannabis Policies for the New Decade.” Legislation is pending, House Bill 1089, to protect cannabis consumers from employment discrimination. Welcome to the latest edition of NORML’s Weekly Legislative Roundup!
It looks like marijuana banking will not be part of the NDAA. Medical cannabis could become part of veterans’ healthcare. Federal assistance with state expungement programs might be on the table. marijuana banking. medical cannabis for veterans. The chairs of the Congressional Cannabis Caucus want to change that.
House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. House Judiciary Committee.
Also this week, the House Committee on Small Business held a hearing to discuss the economic and employment opportunities in the emerging legal cannabis industry and the challenges that federal prohibition and criminalization pose in regards to the Small Business Administration. Click here to email your lawmakers in support of banking access.
The big news this week is that cannabisbanking is included in the latest federal relief bill. Maine made changes to their marijuana program. cannabisbanking. Whether the Senate will retain this language, considering that they have taken no action on the SAFE Banking Act, is not certain. ” sba loans.
CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to CannabisBanking, An Analysis of the SAFE Banking Act.”. Distinguished Cannabis Policy Practitioner in Residence, Drug Enforcement and Policy Center, Moritz College of Law, The Ohio State University.
This week, 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. Actions to Take.
We speak with Mark Lozzi the CEO of cannabis financial solutions company Confia who tell us on their website. Confia enables cannabis supply chains to flow efficiently.We provide free electronic payments within-network, powerful integrated banking capabilities, and automated compliance. Mark Lozzi. What are they?
Former Eaze consultants get sentenced to jail time for committing bank fraud. Texas Governor Abbott allows a bill that will require the state to research psychedelic therapy for veterans, and Connecticut legalized recreational cannabis! Video Transcript: Former Eaze consultants land jail time for bank fraud. Next in news, .
AUGUSTA – Today, the Office of Marijuana Policy announced the introduction of new applications intended to assist business owners operating within the State of Maine’s Medical Use of Marijuana Program. This milestone marks the first time in the medical program’s history that applications have been available electronically.
The governor of Pennsylvania on Monday signed a bill that includes provisions to protect banks and insurers in the state that work with licensed medical marijuana businesses. As a standalone measure, the cannabisbanking reform passed the Senate earlier this year, and it also cleared a House committee last month.
A Michigan credit union just got penalized for working with cannabis businesses, despite the fact that this is a gray area for financial institutions. . This is notable because it is thought to be the first time US regulators have publicly called out a financial institution for compliance issues connected to the cannabis industry.
While South Dakota is still stalled when it comes to making legal cannabis a reality within state borders, the state is already working on legislation that allows banks to decide whether or not to do business with the legal cannabis and hemp industry. . However, it could also have the opposite effect.
When it comes to any hot-button issue like cannabis legalization, there are always two sides, often without much middle ground. Nixons War on Drugs The Nixon administration took the racially-charged propaganda behind cannabis prohibition even further by unofficially beginning the War on Drugs in 1971.
21 State Attorneys General Urge Congress Protect State Marijuana Programs From Federal Interference. AG Racine Leads Bipartisan Coalition of 21 States In Urging Congress To Pass CannabisBanking Bill. AG Racine Leads Bipartisan Coalition of 21 States In Urging Congress To Pass CannabisBanking Bill.
NEW YORK–(BUSINESS WIRE)–BTIG announced today that it will hold its first cannabis-focused conference, which will take place virtually, on Wednesday, September 29, 2021. Industry-leading private and public multi-state operators (MSOs), emerging cannabis brands and REITs will be participating in the firm’s conference.
Regulators in Iowa added two new medical cannabis qualifying conditions to the current list, ulcerative colitis (effective immediately), and severe pediatric autism with self-injurious or aggressive behaviors (effective 4/2/19). Click here to email your lawmakers in support of allowing patients to smoke medical cannabis. California.
House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Activists in Oregon have filed a 2020 ballot initiative with the Secretary of State that, if approved, would allow social cannabis consumption sites and protect consumers from employment discrimination.
The Cannabis Business Association of Illinois (CBAI) touted in a press release today five years of regulated adult-use cannabis. CBAI, which serves as the voice of Illinois cannabis industry, celebrated the milestone by reflecting on challenges and opportunities. The unregulated market faces no such rules.
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