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House COVID Package Includes Cannabis Banking Relief, But Not Small Business Support

NORML

Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Reform advocates , including NORML, had lobbied leadership to include banking reform in the latest COVID relief measure.

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Understanding Cannabis Banking Challenges and How to Overcome Them

Connor & Connor PLLC

Since cannabis remains federally illegal, many banks, who run on a risk-based assessment, refuse to do businesses with cannabis companies. and Guam having fully legal operating cannabis markets under their own laws, banks are put in an awkward position because of the inconsistencies between state and federal law.

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FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Every day, hundreds and thousands of people walk into cannabis dispensaries in legal states to purchase cannabis. Many financial institutions seek to be a part of the cannabis banking movement. In the past year, 553 banks and 202 credit unions provided their services to cannabis-related businesses. However, change is coming.

Banking 114
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Dispensary Spotlight: Verilife North Aurora

Illinois News Joint

And check our Dispensary Directory for more information. Verilife dispensaries provide access to a diverse selection of quality cannabis products,” a Verilife spokesperson said. Verilife North Aurora also works with the Weldon Project for Cannabis Reform and Illinois Food Banks. For other Dispensary Spotlights, visit here.

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While Legalization Stalls, Some Push For Cannabis Banking Services

Cannabis Law Report

Dispensaries and other marijuana industry companies continue to have difficult time getting cannabis banking services. Senate, at least for the moment, some lawmakers are turning their attention to dealing with weed-related banking issues. Why Marijuana Banking Changes Are Needed. Incremental Change vs. Big Change.

Banking 99
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Study: Cannabis Retailers Associated with Drop in Localized Crime

NORML

A pair of senior economists affiliated with the Federal Reserve Bank of Philadelphia assessed the local effects of retail dispensaries on neighborhood crime in Denver, Colorado. ” The majority of crime reduction is due to a decrease in non-violent criminal activity.

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Dank of Oklahoma drops name after trademark infringement lawsuit from Bank of Oklahoma

Cannabis Law Report

March 13 2020 Tulsa world reported… A Tulsa-area dispensary faces a federal lawsuit from Bank of Oklahoma alleging trademark infringement. In a Wednesday filing in … Read More.

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