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Federal Shifts and Future Outlook: U.S. Cannabis Industry Updates

MaxQ Cannabis

The new administration’s approach to Cannabis policy presents a complex landscape for the U.S. Federal Rescheduling and Banking Access The new administration has expressed support for reclassifying Cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act.

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Everyone’s Asking: Why Isn’t the Marijuana Banking Act Moving in the Senate?

Canna Law Blog

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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Big News: The SAFE Banking Act is Getting A Senate Hearing!

Canna Law Blog

Tomorrow, a Republican-controlled Senate Banking Committee hearing will examine cannabis businesses’ lack of access to banking services to further consider the SAFE Banking Act. CUNA President and CEO, Jim Nussle, already commented: At its heart, cannabis banking is a public safety issue. It’s an $8.3

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The Marijuana Banking Bill is Back and Stronger Than Ever

Canna Law Blog

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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Senators Wyden and McConnell Press for Hemp Industry Banking Services

Canna Law Blog

Unfortunately still the position for most banks and hemp. Shortly after the 2018 Farm Bill passed, legalizing industrial hemp, we predicted that banking services for hemp businesses would be slow going. Although some of our hemp clients are banked (and even have crop insurance) many others are still underserved. Senators, Sen.

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The Week in Weed: October 6, 2023

The Blunt Truth

This week, we have an update on the SAFER Banking Act. SAFER BANKING Regular readers will doubtless recall that last week , the SAFER Banking Act emerged from a Senate committee, destined for a floor vote. And since there is, at present, no government shutdown, it’s all smooth sailing ahead, right?

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SAFE Banking Act passes the US House of Representatives by vote of 321 to 103!

Cannabis Law Report

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. It is the first standalone cannabis policy reform bill to ever reach a House floor vote. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 In a vote Tuesday, the U.S.

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