NORML

FEBRUARY 22, 2019

Legislation is pending, House Bill 2149, to amend the definition of “cannabis” under the 2010 voter-approved medical marijuana law. Senate Bill 1003 / House Bill 2273 to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. AZ resident? Connecticut.

Legislation 192

Legislation Hemp Compliance Compliance 192

NORML

MARCH 29, 2019

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.

Legislation 192

Legislation Decriminalization Hemp Patients 192

Cannabis Law Report

MAY 28, 2022

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking. That can prove costly.

Banking 52

Banking State Laws Law DEA 52

NORML

MAY 24, 2019

Click here to email your lawmakers in support of banking access. This measure prohibits employers from arbitrarily discriminating against prospective employees who legally consume cannabis off-the-job in accordance with state law. Update : SB 51 was approved by the Senate on 5/21/19, and now heads to the Assembly. CA resident?

Legislation 190

Legislation Hemp Access Patients 190

NORML

APRIL 26, 2019

Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. Click here to email your lawmakers in support of medical cannabis access. AL resident? CA resident?

Legislation 173

Legislation Compliance Compliance Hemp 173

NORML

MARCH 22, 2019

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.

Legislation 159

Legislation Hemp Patients Compliance 159

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

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.

Banking 45

Banking Compliance Compliance Policy 45

The Blunt Truth

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 78

Hemp Business Compliance Compliance 78

NORML

APRIL 20, 2019

Click here to email your lawmakers in support of banking access. Legislation is pending, Senate Bill 19-220, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. CA resident? Click here to email your lawmakers in support of cannabis delivery services.

Legislation 179

Legislation Decriminalization Hemp Compliance 179

NORML

MAY 17, 2019

Click here to email your lawmakers in support of banking access. LD 991 also seeks to expunge the records of those convicted of marijuana related offenses that are no longer defined as criminal under state law. Update : SB 51 was heard in the Senate Appropriations Committee on 5/13/19 and 5/16. CA resident? ME resident?

Legislation 160

Legislation Hemp Compliance Compliance 160

WeedAdvisor

SEPTEMBER 18, 2019

According to Forbes , one third of the Senate now supports the SAFE Banking Act, a bill that would provide dispensaries access to critical financial services. The fear of federal repercussions keeps major financial institutions for dealing with these businesses, despite their being compliant with state law. Skipping Ahead. .

Banking 45

Banking Dispensary Legislation State Laws 45

Cannabis Law Report

JUNE 5, 2019

The Secure and Fair Enforcement (SAFE) Banking Act of 2019 , H.R. Banks that have chosen to work with cannabis businesses are required to file Suspicious Activity Reports (SARs) with FinCEN, causing significant compliance burdens and increasing costs for both financial institutions and the cannabis-related customers they serve.

Banking 40

Banking Compliance Compliance State Laws 40

Cannabis Law Report

FEBRUARY 14, 2020

Mike Crapo urging him to support the SAFE Banking Act and hold a markup in the Senate Banking Committee. . The House of Representatives passed the SAFE Banking Act by a vote of 321-103 in September, with 91 Republicans voting in favor. We are a bipartisan group, with operations spread across the United States.

Banking 45

Banking Safety Environment Business 45

NORML

MAY 31, 2019

Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. Click here to email your governor in support of medical cannabis access. AL resident? IL resident?

Legislation 120

Legislation Banking Access Hemp 120

NORML

FEBRUARY 8, 2019

Senator Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act — to permit states to establish their own marijuana regulatory policies free from federal interference. House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week.

Legislation 194

Legislation Decriminalization Patients Access 194

Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

Banking 40

Banking Hemp Safety Business 40

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

NOVEMBER 12, 2019

Many legal cannabis suppliers and retailers are being forced to operate in a cash-intensive market due to federal laws that limit access to traditional banking. Banks face four significant challenges when servicing the cannabis industry, according to a California state-backed report.

Banking 45

Banking Supply Chain Seed-To-Sale Data 45

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. Financial institutions that work with marijuana businesses must conduct due diligence to ensure that marijuana businesses are complying with state law.

Hemp 95

Hemp Business Cultivation Banking 95

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.

Business 61

Business Banking Programs Compliance 61

NORML

JUNE 28, 2019

Click here to email your lawmakers in support of banking access. Under state law, adults face civil penalties for minor marijuana possession offenses. Legislation is pending, Senate Bill 315, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

Legislation 114

Legislation Access Decriminalization Patients 114

Cannabis Law Report

JULY 31, 2019

With this federal classification, the cannabis industry is isolated from banking and, in many cases, reduced to a cash-only venture. Senate Committee Holds Hearing on Cannabis Banking. The hearing examined concerns raised by the cannabis industry because of the lack of access to banking infrastructure on the federal level.

Banking 40

Banking Research and Development Safety Legislation 40

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

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. JD Supra Release. The Joint Statement.

Hemp 59

Hemp Business Banking Agriculture 59

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

The Joint Blog

MARCH 5, 2020

Passage of the [Secure and Fair Enforcement] Banking Act or similar legislation will provide security for lawyers and firms acting to advise companies in the industry against having their accounts closed or deposits seized,” a report attached to the ABA resolution states.

Banking 52

Banking Marijuana Legislation Compliance 52

Otherside Farms

MAY 5, 2020

Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives. Generally, the FDIC will not insure a bank that takes on “existential” risks, which include loans to companies in violation of federal law. Most banks are under the federal government.

Business 52

Business Banking Seed-To-Sale Supply Chain 52

Cannabis Law Report

SEPTEMBER 23, 2019

The Charles Gazette-Mail report… State Treasurer John Perdue is hiring an attorney to assist with his office’s handling of banking services for West Virginia’s medical cannabis program, a show of escalating tension with the district’s federal prosecutor. We have no idea what he basically would do in regard to [cannabis banking].

Programs 55

Programs Banking Business Law 55

Cannabis Law Report

JULY 27, 2021

“My diverse career path has allowed me to work across several high-caliber companies, generating development growth in some of the most sophisticated and competitive markets within cannabis, real estate, and investment banking,” said Minor. federal law, nor will it provide a defense to any federal proceeding in the U.S.

Retail 76

Retail Banking Dispensary Compliance 76

Cannabis Law Report

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 45

Hemp Business Compliance Compliance 45

Cannabis Law Report

AUGUST 4, 2022

. §856 which states that it is unlawful to lease or lend money on any place involved in using, manufacturing, or distributing any controlled substance. The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S. Bank, with a mortgage on the property.

Compliance 52

Compliance Compliance Banking Business 52

Cannabis Law Report

AUGUST 6, 2019

Regulators won’t punish credit unions simply for working with marijuana businesses that are operating in compliance with state laws, the head of the federal agency that oversees the financial services providers said in a new interview. Read the full report at.

Banking 40

Banking Compliance Compliance State Laws 40

Cannabis Law Report

FEBRUARY 5, 2019

Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking. Party leaders are also laying the groundwork to vote on a marijuana banking bill soon, Marijuana Moment has learned. Congressional Democrats Plan Hearing And Vote On Marijuana Business Banking.

Digestion 53

Digestion Banking Hemp Retail 53

Cannabis Law Report

FEBRUARY 4, 2019

WSLCB Enforcement officers will begin working with marijuana retailers to educate staff, check for violations, and take appropriate action to gain compliance. Licenses may apply for a payment waiver if they are able to show good cause by demonstrating they are: In the process of getting a bank account. Have lost their bank.

Topical 65

Topical Packaging Retail Legislation 65

Cannabis Law Report

DECEMBER 12, 2019

Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. Cook Investments NW involved several real estate holding companies filing Chapter 11 in Washington State. Federalism questions also arise involving compliance with federal banking and tax laws.

Compliance 45

Compliance Compliance Chronic Pain Banking 45

Cannabis Law Report

APRIL 23, 2019

Prior to getting involved in Tax Law, Dionne was a litigator for several years, representing Lenders, Banks and Servicers in Foreclosure actions. I lived in Colorado for a few years, and had the pleasure of working with a logistics company that legally transported money and products throughout the entire State.

Banking 45

Banking Marijuana Law Business 45