Cannabis Law Report

AUGUST 20, 2022

CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Require federal banking regulators to identify best practices to achieve racial equity in financial services. 21 Pages Posted: 12 Aug 2022.

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Banking Access Research and Development Policy 52

Cannabis Law Report

MARCH 8, 2022

consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. 68% support Congress passing legislation that allows cannabis businesses to access banking services and products in states where cannabis is legal.

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Banking Hemp Business Access 52

Cannabis Law Report

APRIL 28, 2022

Banking associations representing all 50 states and one U.S. territory sent a letter to Senate leaders on Thursday, imploring them to include marijuana banking reform in a large-scale manufacturing bill that’s heading to bicameral conference. ABA and SBA Letter to the Senate Support SAFE Banking in America COMPETES Act 04282022.

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Banking Access Legislation Packaging 59

Canna Law Blog

JULY 7, 2020

The FinCEN Guidance centers on due diligence requirements as related to the Bank Secrecy Act (BSA). Interestingly, the 2019 hemp banking statement, much like the recent NCUA guidance, did not address the legalities around financial institutions trying to bank hemp-CBD businesses. ” No surprises there.

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Banking Hemp Compliance Compliance 54

Canna Law Blog

DECEMBER 5, 2019

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Banking Hemp Compliance Compliance 64

Cannabis Law Report

JANUARY 28, 2020

Banks and accountants wouldn’t be committing crimes under California law by providing services to cannabis clients under a bill that passed the state Assembly 60-1 on Monday. The measure, Assembly Bill 1525 , would help cities and counties collect taxes. Bloomberg reports.

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Banking Collective Data Cannabis 59

The Blunt Truth

JUNE 30, 2022

Congress removed marijuana banking from the COMPETES Act. Meanwhile, in Nebraska, signature collecting continues for a ballot initiative. safe banking. If sponsors of the SAFE Banking Act are feeling like Sisyphus right about now, one can hardly blame them. And finally, Major League Baseball welcomes CBD sponsors.

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Banking Collective CBD Marijuana 111

Cannabis Law Report

JUNE 14, 2022

Massachusetts municipalities have collected more than $53 million in “impact” fees from cannabis companies since the launch of adult-use sales in 2018, according to a Northeaster University study published by the Massachusetts Cannabis Business Association outlined in a Boston Globe report. The Franklin Observer writes.

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Collective Business Legislation Cannabis 52

Cannabis Law Report

DECEMBER 1, 2021

Since the United States classifies cannabis as a Title IV drug, the banking industry is unwilling and unable to provide services to cannabis operations. Retailers can reduce the amount of money on-site, and collect more data about their customers who are no longer cash transactions. Tsang has a long history in the banking world.

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Banking Dispensary Wellness and Beauty Retail 52

Cannabis Law Report

DECEMBER 12, 2019

United States: Bank On Hemp: Federal Banking Regulators Loosen The Reins. On December 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (“FDIC”), the Financial Crimes Enforcement Network… United States: Feds Issue Badly Needed Hemp And CBD Banking Guidance.

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Banking Hemp Law Collective 59

Cannabis Law Report

JULY 12, 2019

The California legislature is currently considering a first-of-its kind urgency bill, SB 51, the “Cannabis Limited Charter Banking and Credit Union Law.” The law would empower privately insured charter banks and credit unions to be licensed as “cannabis depository institutions”, or “CDIs”, to bank California cannabis money.

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Banking Business Cannabis Legislation 40

The Blunt Truth

MAY 21, 2020

Senator Mitch McConnell (R-KY) criticized the cannabis banking provisions in the latest stimulus bill, while state Attorneys General wrote a letter supporting them. cannabis banking. The marijuana industry was optimistic about the inclusion of the SAFE Banking Act in the HEROES bill last week. massachusetts.

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Banking Collective Recreational Hemp 115

Cannabis Law Report

MAY 21, 2019

Lacking banking services, many legal cannabis businesses operate solely in cash,” it says. The majority of states have legalized medical or recreational cannabis, and need to have safe banking options for these businesses. State Treasurers Group Endorses Marijuana Banking Legislation.

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Banking Legislation Safety Collective 40

Cannabis Law Report

JUNE 9, 2022

Treasury Department is proposing to start collecting data on marijuana businesses from banks—alongside industries it already tracks like liquor stores, convenience stores, casinos and car dealers—as part of its ongoing efforts to combat money laundering activities. Marijuana Moment reports. Read full report.

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Data Business Banking Collective 52

SpeedWeed

APRIL 2, 2021

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

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Banking Compliance Compliance Business 52

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

Medical Marijuana Program Connection

MARCH 13, 2023

NYSE: HTGC) (“Hercules” or the “Company”) is working collectively with our. PALO ALTO, Calif.–(BUSINESS –(BUSINESS WIRE)–The team at Hercules Capital, Inc. Read More

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Business Banking Collective 52

The Blunt Truth

MAY 12, 2023

This week, we have an update on the latest incarnation of the SAFE Banking Act. SAFE BANKING The Senate Banking Committee held a hearing late this week on the difficulties the cannabis industry faces due to a lack of access to the federal banking system. We look at the legalization signature drive in Ohio.

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Banking Programs Collective Food 52

Cannabis Law Report

JULY 22, 2019

She emptied her 401(k) and plowed all of her late parents’ retirement savings into transitioning Fiddler’s Green, a former medical cannabis collective, into a licensed adult-use company. But because this is cannabis, bank loans are not an option. Instead, Hattan lives every day on edge.

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Banking Tincture Legalization Collective 40

The Blunt Truth

MAY 6, 2022

On the federal level, cannabis banking may be part of the COMPETES Act. Regular readers will doubtless recall that we left proponents prepared to collect additional signatures to put legalization on the ballot after it appeared that the legislature would not take up the issue. New Hampshire’s Senate decided against legalizing.

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Dykema (Cannabis Law Blog)

APRIL 1, 2020

In a vote of 321-103, the House of Representatives took the first steps to securing better access for the cannabis industry by passing the Secure and Fair Enforcement Act , “SAFE” Banking bill. SAFE generally prohibits federal banking regulators from penalizing an institution for providing banking services to legitimate cannabis businesses.

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Banking Business Collective Access 40

Cannabis Law Report

SEPTEMBER 20, 2019

Hoyer, D-Maryland, announced on the House floor that he will schedule the SAFE Banking Act for a vote. Full report: In historic move, US House to vote on cannabis banking bill next week. 1595, SAFE Banking Act of 2019, as amended. . House of Representatives next week, House Majority Leader Steny Hoyer said Friday.

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Banking Collective State Laws Policy 45

The Blunt Truth

MARCH 12, 2020

As for banking, banking associations around the country sent a letter to Sen. Sherrod Brown (D-OH), asking that the Senate Banking Committee vote on a cannabis banking bill. This means that the group will have to redraft the proposal, collect signatures and resubmit. Mike Crapo (R-ID) and Sen. ON THE LIGHTER SIDE.

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Banking Chronic Pain Hemp Decriminalization 105

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

Cannabis Law Report

AUGUST 20, 2021

Bophelo is being spun off by Canadian parent Halo Collective into a new, non-US, international entity, Akanda. CNW Group/Halo Collective Inc.). . … The suits have descended on Lesotho to start putting a value on Bophelo Bioscience and Wellness , which aspires to be the world’s biggest cannabis grow.

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Collective Banking Pharmaceutical Cultivation 105

Illinois News Joint

JANUARY 23, 2023

For the community, Maribis Westchester participates in a variety of programs, including children’s school supply drives, food drives for local food banks, holiday toy collections, as well as funds scholarships at two community colleges for students interested in cannabis careers, among other special events.

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Illinois News Joint

MARCH 1, 2023

For the community, Maribis Grand participates in a variety of programs, including children’s school supply drives, food drives for local food banks, holiday toy collections, as well as funds scholarships at two community colleges for students interested in cannabis careers, among other special events.

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SpeedWeed

AUGUST 10, 2021

Further, The Hawthorne Collective will provide a $150 million convertible loan to Toronto, Ontario-based RIV Capital in Canada ( TSX: RIV ) (OTC: CNPOF), a cannabis investment and acquisition firm currently listed on the Toronto Stock Exchange. ScottsMiracle-Gro History. Long before cannabis was outlawed in the U.S.,

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Hydroponic Collective Seed-To-Sale Banking 52

Cannabis Law Report

AUGUST 10, 2021

The Hawthorne Collective to Invest $150 million in Canadian-based RIV Capital. To that end, The Hawthorne Collective will provide a $150 million convertible loan to Toronto-based RIV Capital (TSX: RIV) (OTC: CNPOF), a cannabis investment and acquisition firm currently listed on the Toronto Stock Exchange. MARYSVILLE, Ohio, Aug.

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Cannabis Law Report

JULY 25, 2022

Some questions still have not been answered, including whether GovGuam will be able to use banks for the money it collects from the cannabis industry, including application fees and taxes. Although cannabis is legal in Guam, it still is illegal under federal law, which limits the ability of banks to handle cannabis-related money.

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Banking Recreational Business Retail 52

The Blunt Truth

DECEMBER 19, 2019

The big news on Capitol Hill this week was the Senate’s lack of action on the banking bill. Senator Mike Crapo (R-Idaho), the chairman of the Senate banking committee, opposes legalization and seemed disinclined to move on the issue. And a Kentucky legislator is proposing that state legalize as well.

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Banking Agriculture Collective Legislation 61

The Blunt Truth

APRIL 23, 2020

marijuana banking. Ed Perlmutter (D-CO) is optimistic that cannabis banking could make its way into one of the next two relief packages. Because it’s hard to get money from the federal government if you have no bank account to receive it. See text of bill here. STATE ISSUES. Further bulletins as events warrant.

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Banking Packaging Programs Legislation 101

Cannabis Chronicles

MAY 22, 2019

Bills have been repeatedly introduced in Congress to end that classification, as more and more states move to legalize the drug for recreational and medicinal purposes and lawmakers push for other reforms, including allowing pot businesses access to banking services.

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Cannabis Law Report

MAY 9, 2019

SACRAMENTO – California Attorney General Xavier Becerra, along with a bipartisan coalition of 38 Attorneys General, urged Congress to pass the federal Secure and Fair Enforcement (SAFE) Banking Act to give licensed cannabis businesses access to the federal banking system. This is simple: not incorporating an $8.3

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Banking Safety Access Collective 55

Cannabis Law Report

OCTOBER 19, 2021

Since 2016, Local 338 has secured collective bargaining agreements with six of New York’s 10 registered medical marijuana companies , she said, and the union represents about 70% of the overall workforce — or roughly 500 employees. Local 338 is banking on that experience to entice cannabis workers throughout the emerging market.

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Business Marijuana Banking Collective 52

Cannabis Law Report

NOVEMBER 30, 2021

Bryan draws on her prior in-house experience as a Senior Corporate Counsel for one of the largest banks in the United States in order to anticipate her clients’ evolving business needs and tailor her legal services to their specific goals. She is passionate about identifying innovative legal solutions for her clients.

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Banking Compliance Compliance Business 52

Canna Law Blog

AUGUST 31, 2022

These ordinary limitations on liability may affect the ability and ease of collecting on a judgment and make the prosecution of the case more expensive and difficult. It may also include owners treating company accounts as mere piggy banks rather than properly issuing dividends or distributions.

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Banking Dispensary Business Collective 81