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Update: DOJ and SAFE Banking Act

Canna Law Blog

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

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Cato Institute “Cannabis Banking: A Clash Between Federal and State Laws”

Cannabis Law Report

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.

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Yesterday’s Marijuana Rescheduling News, Explained

Canna Law Blog

I take issue with some of the headlines , so here’s mine: “DEA Reportedly Agrees to Initiate Proposed Rulemaking to Reschedule Marijuana…”. Clearly, I’m a lawyer and not a reporter, but the “Reportedly” and “Initiate Proposed Rulemaking” are key considerations here at the Canna Law Blog. How did we get here? What’s the next step?

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Three Myths and Three Facts on the HUGE Marijuana Rescheduling Recommendation

Canna Law Blog

This all looks pretty good right now, but the Drug Enforcement Administration (DEA) and ultimately the Attorney General (AG) have final say on whether to schedule or reschedule marijuana following the HHS recommendation. In any case, the DEA Administrator reports to the AG (through the Deputy AG). The AG could then reschedule.

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Bank of America Shuts Down Cannabis Research Facility Account

Cannabis Law Report

Bank of America (BoA) is reportedly terminating its banking relationship with Scottsdale Research Institute (SRI), a DEA-registered facility that carries out important marijuana research. So, given the history and credibility of the Institute, why did BoA terminate the 10-year banking relationship with SRI?

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Predictions for Future Federal Cannabis Laws

Canna Law Blog

So instead of federal cannabis legalization, what we got was a series of misguided attempts to do piecemeal legalization, most notably the SAFE Banking Act , which, even as I write this, is suffering the above fate due to inability of Congress to reach a basic compromise in spite of herculean lobbying efforts. ” The U.S.

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Federal Cannabis Legalization Isn’t Here Just Yet

Canna Law Blog

Indeed, just like when these states started licensing, cannabis is still on Schedule I of the Controlled Substances Act (CSA), 280E is still a nuisance, big banks still won’t bank cannabis money , and so on. I say “apparently” because HHS’s letter to DEA is redacted to the point of uselessness.