Canna Law Blog

NOVEMBER 16, 2023

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. These are the highest risk businesses for banks and constitute the majority of suspicious activity report (“SAR”) filings.

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NORML

JULY 17, 2019

Members of the United States Senate Committee on Banking, Housing, and Urban Affairs are scheduled to hear testimony next week regarding the need to provide greater access to financial services for state-licensed marijuana-related businesses. ” (Read NORML’s full testimony here.).

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NORML

APRIL 12, 2023

Highlights include: AR, CA, CO, ME, MD, MO, NH, PA, SC, and TX The post State Policy Weekly Update 4/12/2023 appeared first on NORML.

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NORML

MARCH 8, 2019

A bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595 , to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. This situation is untenable.

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Cannabis Life Network

DECEMBER 7, 2022

United States Congress has declined to include cannabis banking in the NDAA (National Defense Authorization Act). The NDAA is an annual congressional bill guiding policies and funding of federal military agencies. The post Cannabis Banking Left out of NDAA appeared first on Cannabis | Weed | Marijuana | News.

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NORML

SEPTEMBER 21, 2021

NORML maintains that the NDAA is an appropriate vehicle for the SAFE banking provisions. The post NORML Sends Letter In Support Of The SAFE Banking Act Being Attached To The NDAA appeared first on NORML. According to the American Legion, nearly 1 in 4 veterans report consuming cannabis.

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Cannabis Law Report

AUGUST 17, 2022

Drug Enforcement and Policy Center, August, 2022. According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans. Ohio State Legal Studies Research Paper No.

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NORML

FEBRUARY 14, 2019

The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses. You can share the op-ed on Facebook by clicking here and on Twitter by clicking here.

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Cannabis Law Report

AUGUST 20, 2022

CRCC’s paper, published by the Ohio State University (OSU) Moritz College of Law, is titled “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”. Drug Enforcement and Policy Center, August, 2022. Ohio State Legal Studies Research Paper No. 21 Pages Posted: 12 Aug 2022. Cat Packer.

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Canna Law Blog

FEBRUARY 28, 2022

Guidance on banking and MRBs. Department of Justice on “Marijuana Related Financial Crimes” was rescinded in 2018 , the FinCen Memo has been the only game in town for federal banking guidance. But banks don’t really use that. These businesses are lower risk for banks than Tier I. Allow me to explain. That’s wrong.

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Cannabis Law Report

APRIL 8, 2023

The National Cannabis Policy Summit’s Congressional Forum convenes cannabis advocates, patients, business leaders and policy experts for an afternoon of keynote addresses and discussions featuring Members of Congress in the Capitol Visitors Center’s Congressional Auditorium.

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Canna Law Blog

DECEMBER 1, 2022

As we’ve written about over the past several years, there have been consistent rallying cries for common-sense banking reform for the cannabis industry. The SAFE Banking Act, which would allow federally regulated financial institutions to work with state-legal cannabis businesses, has been passed by the U.S.

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Cannabis Law Report

MAY 19, 2022

Impacts include risks to public safety and security, impacts on governmental regulatory agency access to banking and depository services, and impacts on small and minority cannabis businesses. CANNRA+Banking+Letter_FINAL.

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Banking Policy Safety Access 52

Cannabis Law Report

MAY 10, 2023

The Cannabis Regulators Association (CANNRA) commends Congress for their bipartisan work on legislation to provide banking and financial services for the regulated cannabis industry and those who work with the industry. territories.

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NORML

AUGUST 19, 2019

Justin Strekal: It’s important to remember that none of the states that have reformed their cannabis policies — whether medical or adult-use — were predicated on if Congress decides to move marijuana to Schedule II or III or IV. The MORE Act contains a section that addresses immigration issues related to cannabis.

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Cannabis Law Report

JULY 1, 2021

Cannabis banking options are still quite limited for marijuana entrepreneurs, despite 36 states legalizing medical marijuana and 17 states permitting recreational adult use, according to the National Conference of State Legislatures. Are there cannabis-friendly banks? Compare 5 cannabis-friendly banks and credit unions.

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NORML

APRIL 1, 2020

. “In this era of tremendous uncertainty, it is crucial that policymakers use every tool in their toolkit to promote public health and safety.

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Cannabis Law Report

DECEMBER 7, 2021

Congress is making another run at providing a safe harbor to the banking industry and companies that provide services to cannabis businesses. On September 21, 2021, the House voted to include the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) 1 in the annual National Defense Authorization Act for Fiscal Year 2022 (NDAA).

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Banking Compliance Compliance Business 52

Cannabis Law Report

FEBRUARY 9, 2022

Well worth a read if you want to catch up on the state of British banking for cannabis / hemp products… it’s not good! Banks, insurance companies and payment providers are refusing to work with cannabis-related companies throughout the UK, hampering the growth of the industry and leaving many in financial limbo.

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Canna Law Blog

MAY 26, 2019

Looks like marijuana banking is stuck, again. The banking associations from all 50 states and 1 U.S. territory sent a joint letter to leaders of the Senate Banking Committee on Monday, to urge advancement of bipartisan legislation that would protect financial institutions that service marijuana businesses.

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Banking Marijuana Safety Legislation 91

Cannabis Law Report

DECEMBER 27, 2021

An 11-year dispute over whether banks can pull mortgages from marijuana users is finally headed to the Canadian Human Rights Tribunal, says Blacklock’s Reporter. filed the complaint after the bank learned he was growing marijuana plants on his property and denied him further credit. The Western Standard reports.

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Cannabis Law Report

SEPTEMBER 22, 2021

Government Policy Analyst to Specialize in Insights from the Intersection of Washington and Wall Street. NEW YORK–(BUSINESS WIRE)– BTIG announced today that the firm has hired Isaac Boltansky as a Managing Director and the Director of Policy Research.

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Canna Law Blog

DECEMBER 24, 2019

Our firm represents a number of financial institutions and even a federal agency on banking state-legal cannabis. The number one question we have received lately is: “do you know a bank or credit union that will bank my hemp-CBD business?” And here’s why.

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Cannabis Law Report

MARCH 5, 2020

Marijuana Moment reportsTreasury Secretary Steven Mnuchin said on Wednesday that he will not take administrative action to protect banks that service marijuana businesses from being penalized by federal regulators, stating that it’s up to Congress to resolve the problem. The conflict is a problem. Read the full Marijuana Moment piece at.

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Cannabis Law Report

JULY 1, 2022

Portland, OR. – Outdated federal barriers to banking services continue to severely impact the legal cannabis industry in Oregon and nationwide. Cannabis banking should be a priority,” stated OLCC Chair Paul Rosenbaum. He continued, “This is certainly an achievable policy step that will save lives – now.”.

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Banking Business Access Safety 52

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. ALBUQUERQUE, N.M. , Dec. Department of Treasury and FinCEN.

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Banking Hemp Compliance Compliance 52

Canna Law Blog

JANUARY 16, 2019

We represent a handful of banks (and a larger handful of credit unions), and we give those outfits advice on banking hemp and marijuana. A few of these clients are relatively nimble and bold, but at the end of the day they are still banks. We are optimistic that the hemp industry will have ample banking options.

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Cannabis Law Report

OCTOBER 5, 2021

It’s been a busy few weeks in Washington DC for cannabis : the House Judiciary Committee approved the MORE Act, the SAFE Banking Act got attached to the National Defense Authorization Act, and Senators Schumer, Wyden, and Booker are still garnering support for the Cannabis Administration & Opportunity Act.

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Canna Law Blog

FEBRUARY 13, 2020

Today I want to look at some policy exclusions to point out potentially problematic terms that you may notice when reviewing your insurance contract during your annual insurance audit. This results in many business owners meaning to read the contract but rarely getting beyond the coverage jacket on the first page of the policy.

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Canna Law Blog

FEBRUARY 27, 2019

Six years after it was initially introduced, the House Financial Services Committee released the latest draft legislation that would create a “safe harbor” for banks to serve the rapidly expanding cannabis industry on February 7, 2019.

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Banking Marijuana Legislation Business 91

Canna Law Blog

DECEMBER 5, 2019

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Cannabis Law Report

OCTOBER 31, 2019

Law Firm Manatt, Phelps & Phillips, LLP writes… The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships. What happened.

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NORML

FEBRUARY 27, 2019

As the tentacles of the federal policy of cannabis prohibition run deep into nearly every sector of American public policy, a new voice emerged to call for clarity regarding state-legal cannabis marketplaces: Federal Reserve Chair Jerome Powell. Cannabis businesses ought to be held to the same standards as other commercial enterprises.

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Cannabis Chronicles

FEBRUARY 4, 2019

Much the way banks are unwilling to finance cannabis startups, television networks and online advertising marketplaces are understandably cautious because the Feds still classify marijuana as a Schedule 1 drug alongside heroin and ecstasy. Facebook, which like Google prohibits marijuana ads, has kicked some weed sellers off Instagram.

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Cannabis Law Report

SEPTEMBER 16, 2021

House lawmakers have introduced a series of drug policy-related amendments to defense legislation, including proposals to facilitate research on the benefits of psychedelics for active duty military personnel and to protect banks that service state-legal marijuana businesses. Marijuana Moment reports. Read full report.

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Cannabis Law Report

JANUARY 5, 2022

W hile this Review focuses on 2021, it’s difficult to contextualise the levels of psychedelic drug policy reform witnessed this year without appreciating the gravitas of events in late 2020. Beyond progress updates on these two landmark initiatives, 2021 saw a flurry of policy reform efforts across the world. Introduction.

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Policy Therapy Banking Events 52

Cannabis Law Report

JUNE 21, 2021

Here’s their letter to the Chair and Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee. The inability of these state-legal entities to bank their significant cash reserves is an issue of public safety. Thursday, June 17, 2021. Washington, D.C. Oregon’s U.S. Senator Jeff Merkley and U.S.

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