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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.

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Banks Get Exposed by New York’s Unlicensed Cannabis Dispensaries

Canna Law Blog

Major banks like JPMorgan Chase and Wells Fargo, as well as landlords such as BentallGreenOak and Ashkenazy Acquisition Corp., have found themselves indirectly involved with New York City’s unlicensed cannabis dispensaries, potentially exposing them to legal issues. Signature Bank, Bank of America Corp.,

Banking 71
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Cannabis Banking Today

Canna Law Blog

We are helping build out another cannabis banking program here in Oregon. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking. Here is my shorthand: “ Direct Marijuana Business.” Indirect Marijuana Business.”

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Cannabis sector eligible for $40B credit program from government bank

Cannabis Life Network

TORONTO — Devastated bars and lounges, as well as the country’s hard-hit cannabis sector, will finally have access to $40 billion in new credit being made available via the government’s business bank during the COVID-19 crisis, its CEO said on Sunday.

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Group to begin work on Alabama’s new medical cannabis program

Cannabis Law Report

The 14 people who will oversee Alabama’s new medical marijuana program will gather for the first time Thursday. The panel faces several deadlines to set up the rules to launch what will be a fully intrastate program. Commission members cannot have financial interest in companies that are part of the medical marijuana industry.

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Why Is The SAFE Banking Act So Important?

MassRoots

One of the most important pieces of cannabis related legislation, the Secure and Fair Enforcement Banking Act ( SAFE Banking Act ), has the chance to be included in the next round of COVID-19 relief legislation in the United States. Tell them to support the inclusion of the SAFE Banking Act. Don’t wait.

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Maine Cannabis Regulator Unveils New Medical Marijuana Applications

Cannabis Law Report

Applications for medical marijuana dispensaries available for the first time since 2010, caregiver applications added to Office of Marijuana Policy’s electronic offerings. If appropriate for their business models, registered medical cannabis caregivers may choose to convert their registration type to dispensaries.

Marijuana 105