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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 Week in Weed: September 22, 2023

The Blunt Truth

We have some information on the SAFER Banking Act – will the “R” make all the difference? SAFER BANKING ACT “A rose, by any other name, would smell as sweet,” says Shakespeare. SAFER BANKING ACT “A rose, by any other name, would smell as sweet,” says Shakespeare. Does the same hold true for cannabis banking legislation?

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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. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 It aims to address the state-legal cannabis industry’s lack of access to banking and other financial services.

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Mastercard Directives Block Cannabis Purchases on Debit Cards

Veriheal

In a recent controversial move, Mastercard issued a directive to United States banks, ordering them to block cannabis purchases on its debit cards. This new mandate struck a chord because, unlike credit cards, debit cards are linked directly to an individual’s bank account.

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Duane Morris – Mondaq Article: United States: SAFE Banking Act Passes The House – Cannabis Banking May Soon Be Reality Last Updated: October 23 2019

Cannabis Law Report

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications.

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