Veriheal

APRIL 14, 2022

Banking has been a hurdle for cannabis businesses since the birth of the industry. While the federal SAFE Banking Act —which seeks to provide banking protections for cannabis businesses—continues to hit road bump after road bump in the U.S. The Cole Memo, however, did not require banks to serve cannabis-related companies.

Banking 116

Banking Business Cannabis Access 116

Cannabis Law Report

NOVEMBER 23, 2021

The alliance showcases the strengths of both organizations: Shield Compliance offers a purpose-built AML/BSA compliance management software solution that enables financial institutions to unlock new revenue and scale cannabis banking operations. POSaBIT puts compliance at the center of everything it does. About POSaBIT.

Compliance 52

Compliance Compliance Banking Seed-To-Sale 52

Cannabis Law Report

JULY 1, 2021

Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Compare 5 cannabis-friendly banks and credit unions.

Banking 110

Banking Compliance Compliance Business 110

Cannabis Law Report

AUGUST 18, 2021

Local Business Also Pleads Guilty to Laundering More than $770,000 in Marijuana Proceeds through Account. On August 2, 2021, the United States charged Ngo by Information with one count of making a false statement to a bank and FMG with one count of structured money laundering. Attorney Robert J.

Banking 98

Banking Business Marijuana Compliance 98

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.

Banking 52

Banking Access Research and Development Policy 52

Cannabis Law Report

SEPTEMBER 30, 2021

.–(BUSINESS WIRE)– #cannabisbanking –NatureTrak, the leading compliance and risk management solution for financial institutions serving the cannabis industry, today announces its newest customer, Southwest Capital Bank.

Banking 52

Banking Compliance Compliance Business 52

Canna Law Blog

MAY 26, 2019

Looks like marijuana banking is stuck, again. The banking associations from all 50 states and 1 U.S. territory sent a joint letter to leaders of the Senate Banking Committee on Monday, to urge advancement of bipartisan legislation that would protect financial institutions that service marijuana businesses.

Banking 91

Banking Marijuana Safety Legislation 91

Canna Law Blog

FEBRUARY 27, 2019

Six years after it was initially introduced, the House Financial Services Committee released the latest draft legislation that would create a “safe harbor” for banks to serve the rapidly expanding cannabis industry on February 7, 2019.

Banking 91

Banking Marijuana Legislation Business 91

SpeedWeed

APRIL 2, 2021

Shield Compliance is a comprehensive compliance management platform for banking cannabis-related businesses. The company’s focus is on transforming the way cannabis banks and legal marijuana financial institutions manage risk, comply with regulations, and satisfy operational demands across the United States.

Compliance 52

Compliance Compliance Media Data 52

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. On September 21, 2021, the House voted to include the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) 1 in the annual National Defense Authorization Act for Fiscal Year 2022 (NDAA).

Banking 52

Banking Compliance Compliance Business 52

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.

Banking 64

Banking Hemp Compliance Compliance 64

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.

Banking 54

Banking Hemp Compliance Compliance 54

MMJ Recs

MARCH 16, 2024

Overview of the Medical Marijuana Industry The medical marijuana industry has experienced significant growth and evolution in recent years, fueled by shifting attitudes, changing regulations, and expanding legalization efforts across various jurisdictions.

Supply Chain 105

Supply Chain Research and Development Marijuana Seed-To-Sale 105

MMJ Recs

MAY 5, 2024

California state has been at the forefront of progressive cannabis legislation, particularly when it comes to medical marijuana. Per California law, patients must meet a set of certain requirements to become eligible to obtain and use marijuana legally with a doctor’s recommendation.

Law 52

Law Marijuana Cultivation Patients 52

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. “ The marijuana industry will soon be exploding in New Mexico , and it is important to have banking safeguards to mitigate illicit and criminal conduct. ALBUQUERQUE, N.M. , Dec.

Banking 52

Banking Hemp Compliance Compliance 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. What happened.

Banking 45

Banking Compliance Compliance Policy 45

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. While marijuana is still illegal federally, many states have legalized marijuana for medical and recreational use. Bank Secrecy Act Compliance. Eide Bailly LLP. Legal Hemp Growing.

Banking 40

Banking Hemp Marijuana Compliance 40

Canna Law Blog

JANUARY 16, 2019

In a recent post, we explained that “the 2018 Farm Bill modified the Controlled Substances Act (the ‘CSA’) to exempt hemp from the definition of marijuana. We represent a handful of banks (and a larger handful of credit unions), and we give those outfits advice on banking hemp and marijuana. Seems easy, right?

Banking 72

Banking Hemp Environment Access 72

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

The guidance offers reassurance to credit unions following the 2018 Farm Bill, which federally legalized hemp, but failed to address banking in the hemp industry, leaving the banking industry uncertain as to their capacity to legally serve the industry. I’ve seen dispensary employees have their bank accounts shut down.

Banking 40

Banking Hemp Marijuana Events 40

Cannabis Law Report

OCTOBER 14, 2021

Company’s Core Operational Compliance Solutions Help Cannabis Operators in the. Emerging Medical Marijuana Market Stay Compliant. Simplifya’s suite of compliance tools now available to the cannabis ecosystem in West Virginia include: Simplifya Standard Operating Procedures (SOPs).

Compliance 52

Compliance Compliance Tincture Conditions 52

Cannabis Law Report

SEPTEMBER 25, 2019

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 It aims to address the state-legal cannabis industry’s lack of access to banking and other financial services.

Banking 55

Banking Safety Compliance Compliance 55

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account. . If you wish to re-publish this story please do so with following accreditation.

Banking 45

Banking Hemp Business Agriculture 45

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.

Banking 52

Banking Marijuana Compliance Compliance 52

Veriheal

SEPTEMBER 1, 2022

introduced a never-before-seen bill—the Capital Lending and Investment for Marijuana Businesses Act (“the CLIMB Act”). banking and insurance). Provision of accounting services; advertising services; legal or compliance services; IT, software, and communications services; packaging, transportation, or other logistics services.

Business 138

Business Banking Legislation Cannabis 138

Cannabis Law Report

NOVEMBER 18, 2021

Sahar Ayinehsazian is based in VS’s Los Angeles office, where she focuses her practice on cannabis banking, corporate transactions, and regulatory compliance. Jerrico Perez is based in VS’s Denver office, where she focuses her practice on administrative law, regulatory compliance, and licensing. View her full bio at [link].

Banking 96

Banking Compliance Compliance Law 96

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.

Banking 40

Banking Law Compliance Compliance 40

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. The post American Bar Association Passes Marijuana Resolutions appeared first on TheJointBlog.

Banking 52

Banking Marijuana Compliance Compliance 52

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. Actions to Take.

Legislation 177

Legislation Hemp Compliance Compliance 177

Cannabis Law Report

JULY 2, 2019

Starting today, US manufacturers and merchants can apply through LegitScript to certify CBD products and websites that are in compliance with USDA, FDA, FTC, and DEA regulations, as well as state-specific laws.

Compliance 40

Compliance Compliance Programs CBD 40

Cannabis Law Report

MARCH 4, 2022

Marijuana has been a hot topic over the last few years as more and more U.S. Dispensaries are becoming more common and this is good news for anyone who is thinking about going into the marijuana business, but for the U.S. This option requires a lot of work and compliance with the cannabis waste disposal techniques.

Dispensary 59

Dispensary Marijuana Banking Business 59

Cannabis Law Report

AUGUST 8, 2022

On June 16, 2022, three agents from the CCB’s staff conducted an investigation of the cultivation at which the agents claimed to have found 63 packages of cannabis seeds purchased from online cannabis seed banks from October 2020 to July 2021. Curaleaf takes its regulatory compliance responsibilities seriously.

Compliance 52

Compliance Compliance Banking Packaging 52

NORML

JUNE 14, 2019

Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE. The Marijuana Freedom and Opportunity Act would remove marijuana from the Controlled Substances Act and to provide funding for the expungement of criminal records for those with past marijuana convictions.

Legislation 146

Legislation Banking Access Hemp 146

Cannabis Law Report

MAY 9, 2022

On May 4, 2022, South Carolina’s medical marijuana bill — SB 150, also known as the South Carolina Compassionate Care Act — was ruled unconstitutional by the state’s House of Representatives. She regularly advises clients on CCPA and GDPR compliance issues. By Rachel M. LaBruyere & Whitt Steineker. May 9, 2022. Whitt Steineker.

Marijuana 52

Marijuana Banking Compliance Compliance 52

Cannabis Law Report

AUGUST 4, 2022

We have been drafting and negotiating leases for about seven years for our marijuana clients. With psilocybin and marijuana both listed as Schedule 1 drugs under the Controlled Substance Act (21 U.S.C. The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S.

Compliance 52

Compliance Compliance Banking Business 52

Cannabis Law Report

AUGUST 10, 2022

Some advocates are still pushing to pass the SAFE Banking Act, allowing banks insured by the FDIC to serve cannabis businesses without fear of violating federal law. The likelihood of any action depends on the results of the midterm elections in November. 2] Delaware, Maryland, Minnesota, Missouri, New Hampshire, and Ohio.

Legalization 52

Legalization Banking Legislation Compliance 52

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. JD Supra Release.

Hemp 59

Hemp Business Banking Agriculture 59

Cannabis Law Report

JUNE 22, 2022

The confusion over the legality of innovative hemp products, like Delta-8 products, may cause banks to reevaluate the risks of working with the hemp industry. Because “compliant” hemp is federally legal, many more banks are openly serving the hemp industry, but not the retail or medical marijuana industries.

Banking 52

Banking Hemp THC Cannabinoids 52