Veriheal

JANUARY 27, 2024

Many financial institutions seek to be a part of the cannabis banking movement. According to quarterly data presented by the US Treasury Department, over 800 banks and credit unions have filed paperwork with the United States government to state their relations with cannabis businesses. This marks a significant increase from last year.

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Veriheal

MAY 5, 2023

A study looked at the link between psychedelics and spirituality, Minnesota is closing in on recreational cannabis, and Montana is looking to make cannabis banking easy. Researchers looked at data from 2,374 psychedelics users who reported having “belief-changing” trips. Let’s dive into this week’s canna-news.

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NORML

AUGUST 30, 2019

The establishment of regulated cannabis retailers is associated with a decrease in localized criminal activity, according to data published in the journal Regional Science and Urban Economics.

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Canna Law Blog

APRIL 1, 2019

After its introduction on Tuesday, March 26, 2019, the House Financial Services Committee has voted 45-15 to advance the SAFE Banking Act of 2019 to the House floor on a to-be-determined date. Currently, the Safe Banking Act has 152 cosponsors, including 12 Republicans, which is more than one-third of the entire House of Representatives.

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Banking Marijuana Legislation Business 88

Cannabis Law Report

SEPTEMBER 16, 2022

Treasury Department has formally sent the White House its proposal 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. Read the detail at.

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Cannabis Law Report

OCTOBER 25, 2022

Via NORML Members of the NAACP’s Board of Directors have approved a resolution calling upon Congress to enact legislation that explicitly allows banks to provide financial services to state-licensed cannabis businesses. According to data provided by the US Treasury Department earlier […].

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Garvey Schubert Barer - Cannabis Business

JULY 3, 2017

The Financial Crimes Enforcement Network (“FinCen”) issued a Marijuana Related Business update in June with data from the first quarter of 2017. FinCen reports that the number of depository institutions that are actively banking marijuana businesses increased to 368 by the end of March of 2017.

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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

The Blunt Truth

MARCH 12, 2020

The report did not set out a timeline for usage guidelines, citing the need for more data. 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. FEDERAL NEWS. Mike Crapo (R-ID) and Sen.

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Cannabis Chronicles

MAY 22, 2019

The partnership will allow researchers at the university to gather data that can be used to develop treatment strategies based on strain, the effectiveness of cannabidiol in treating pain and other disorders and the method of delivery, be it smoked or ingested, McDonell said. The tribe is scheduled to fund the research project for a year.

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MassRoots

AUGUST 4, 2020

The California Cannabis Industry Association (CCIA) is calling for cannabis businesses to join them in imploring Speaker Pelosi to prioritize the Secure and Fair Enforcement Banking Act (SAFE Banking Act). What is the SAFE Banking Act? CCIA and The Liaison Group have been working tirelessly behind the scenes on SAFE Banking.

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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. Bloomberg reports. The measure, Assembly Bill 1525 , would help cities and counties collect taxes.

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Veriheal

OCTOBER 7, 2020

COVID-19 has affected the relationships being cultivated between cannabis businesses and banks. Banks love the green, they love businesses that grow and continue to bring in more green UNLESS that green has anything to do with a plant called cannabis. The Pandemic Plays a Bigger Part Between Banks and Cannabis Businesses.

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Greenspoon Marder Cannabis Law Group Blog

AUGUST 7, 2019

industrial hemp germplasm repository, or seed bank, was recently announced by New York State Senator Charles Schumer. An initial investment of $500,000 in federal funding will be used to commence the brand new and nation’s only industrial hemp seed bank, which will be located in Geneva, the Finger Lakes Region of New York.

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Banking Hemp Research and Development Supply Chain 53

Canna Law Blog

SEPTEMBER 26, 2019

Moreover, the lawmakers are hoping that regulatory certainty will provide stakeholders access to banking services and open up new economic opportunities for the industry while at the same time protect consumers. Overall, both of these effort by U.S.

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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. It starts with connecting the dots.

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Cannabis Law Report

SEPTEMBER 14, 2021

Abrigo, the leader of compliance, credit risk, and lending solutions for financial institutions, today announced its partnership with Green Check Verified (GCV), the top provider of cannabis banking solutions for financial institutions. Abrigo partners with Green Check Verified to expand cannabis banking support to financial institutions.

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Cannabis Law Report

AUGUST 9, 2021

The study will utilize Radicle Science’s data analytics platform and a virtual, direct-to-consumer model to deliver objective health outcome data across diverse populations and conditions. This randomized controlled trial will collect data on 13 U.S. CStore Decisions.

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Cannabis Law Report

NOVEMBER 5, 2019

Here’s the introduction to their report…… But this last quarter, the Financial Crimes Enforcement Network (FinCEN) reported that 563 banks and 160 credit unions were serving cannabis companies as of September 30, compared to 553 banks and 162 credit unions at the end of the previous quarter.

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Cannabis Law Report

JUNE 22, 2021

Banking Dive reports on what seems a very light sentence (we think) compared to some of the sentences we’ve recently seen handed out to illegal grow house minders or street dealers around the country. banks and credit unions into processing cannabis sales. banks and credit unions into processing cannabis sales.

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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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Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

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Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. And that puts them and the Americans they do business with at risk. .

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Banking Cannabis Business Safety 40

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. Visit www.shieldbanking.com.

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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

Cannabis Law Report

FEBRUARY 8, 2023

Simplifya Market Guide Now Available to Shield Compliance Customers; Platform Provides Banks and Credit Unions with Real-Time, Comprehensive Regulatory Information for All 50 States (DENVER) February 8, 2023 – Simplifya, the leading regulatory and operational compliance software platform serving the cannabis industry, announced the availability of (..)

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Compliance Compliance Data Banking 52

Illinois News Joint

JULY 11, 2024

According to the report, compared to White men, racial and/or ethnic minorities and women are less likely to be business owners and have less access to capital through either hourly wages or bank loans. Black loan applicants face higher bank loan denial rates. Black, Hispanic, additional raced26, and women workers have lower wages.

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Cannabis Law Report

SEPTEMBER 27, 2020

Psilocybin Alpha write…… In our latest Psilocybin Alpha Data Bank release below, we’ve pulled together all of the psilocybin-related patents and published patent applications that were … Read More. The post Psilocybin Patent Tracker Launched first appeared on Cannabis Law Report.

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Cannabis Law Report

JULY 26, 2021

Due to laws at the Federal level restricting the presence of banks within the cannabis sector, merchants and businesses have long struggled to offer convenient payment mechanisms to their shoppers – many of whom are used to paying online but often can’t when it’s a cannabis store.

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Cannabis Chronicles

JULY 1, 2019

billion in the United States in 2018, and the number of “plant-touching” jobs is expected to pass 500,000 by 2022, according to New Frontier Data, a cannabis market research and data analysis firm. Legal weed generated $10.4 But be warned, the cannabis industry is not for the faint of heart.

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Cannabis Chronicles

JANUARY 4, 2019

As of Wednesday, 70 grower licenses were expired, and 57 licenses were surrendered, according to commission data. Because of the federal illegality, there is not a balance between suppliers and demand,” said Beau Whitney, senior economist and vice president of New Frontier Data, a cannabis market research firm. “If Buyers market.

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Cannabis Law Report

JULY 26, 2021

Due to laws at the Federal level restricting the presence of banks within the cannabis sector, merchants and businesses have long struggled to offer convenient payment mechanisms to their shoppers – many of whom are used to paying online but often can’t when it’s a cannabis store. .

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The Blunt Truth

OCTOBER 10, 2019

And data compiled by the Financial Crimes Enforcement Network (FinCEN) show that more and more financial institutions are serving the industry, even without federal legislation on the practice. Members of the cannabis industry , optimistic after the House passage of the SAFE Banking Act, have a plan for the future.

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Chronic Pain Banking Hemp Legislation 77

Veriheal

AUGUST 14, 2023

In a recent controversial move, Mastercard issued a directive to United States banks, ordering them to block cannabis purchases on its debit cards. This new mandate struck a chord because, unlike credit cards, debit cards are linked directly to an individual’s bank account.

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Cannabis Law Report

FEBRUARY 14, 2020

However, the move to attract investment to the island’s “well-regulated, export-oriented medicinal cannabis industry” faces a major hurdle according to Camillo Gonsalves, the country’s Minister of Finance: existing federal banking regulations in the United States that bar financial institutions from providing services to cannabis companies.

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WeedAdvisor

AUGUST 16, 2019

banks are skittish about dealing with the marijuana industry. banks are concerned about federal prosecution, banks in Uruguay fear international sanctions – something arguably much worse. Also, much like in the U.S., But while U.S. Still, businesses found ways to make the best of the situation.

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Cannabis Law Report

OCTOBER 10, 2019

They have data and reports in play and we presume have fairly healthy numbers in terms of B to B clients. said New Frontier Data Founder and CEO Giadha Aguirre de Carcer. based New Frontier Data was founded in 2014 and has grown to over a 50-person team, with three offices in the United States and Europe. Washington, D.C.-based

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