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FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Many financial institutions seek to be a part of the cannabis banking movement. According to quarterly data presented by the US Treasury Department, over 800 banks and credit unions have filed paperwork with the United States government to state their relations with cannabis businesses. This marks a significant increase from last year.

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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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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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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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A Win for Weed - The US House Approves the SAFE Banking Act

Marijuana Seeds NL

The SAFE Banking Act bill was recently passed by the US House of Representatives. So, what does this SAFE Banking Act update mean for the industry as a whole, and what’s in the bill? We’re answering all the top questions on this monumental cannabis legislation, with all the latest SAFE Banking Act news. It’s hard to say.

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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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