article thumbnail

Cannabis Banking Today

Canna Law Blog

We are helping build out another cannabis banking program here in Oregon. My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to 2014. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking.

Banking 78
article thumbnail

Credit Union and Banking Update for Hemp and Marijuana Industries

Greenspoon Marder Cannabis Law Group Blog

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

Banking 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Senate Committee Hearing Report – Challenges for Cannabis and Banking

Greenspoon Marder Cannabis Law Group Blog

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. .

Banking 40
article thumbnail

Further Delays To Cannabis Dispensaries Opening In Maine

Cannabis Law Report

State budget forecasters are banking on a robust kickoff, however, estimating $5 million in sales by the end of the month. Maine won’t issue active licenses until it has a testing lab ready, with all its licenses and certifications, to run the health, safety and potency tests required under state law, Gundersen said.

article thumbnail

Quick Guide to Cannabis Business Opportunities

Canna Law Blog

The legal requirements for each type are different, so it’s essential to research the laws around the company you want to start. Plant-Touching Businesses As the name implies, plant-touching cannabis businesses deal directly with the cannabis plant from seed to dispensary shelf.

article thumbnail

Rep. Tulsi Gabbard: I just introduced legislation to end the federal marijuana prohibition

NORML

Drug Enforcement Administration and Congress still erroneously classify marijuana as a Schedule 1 drug, ignoring the fact that 33 states, including my home state of Hawai‘i, have already accepted the medical use of marijuana under state law.

article thumbnail

Legalization Is Paving the Way to a Greener Society: 5 Things You Need to Know Before Opening a Dispensary

Otherside Farms

A few decades ago, you couldn’t open a cannabis dispensary in any state without facing the wrath of the state laws. This is now a thing of the past in most states, thanks to the legalization of the sale and use of cannabis in these states. Your Dispensary Budget. Please read on. The Business Plan.