Canna Law Blog

SEPTEMBER 12, 2023

Major banks like JPMorgan Chase and Wells Fargo, as well as landlords such as BentallGreenOak and Ashkenazy Acquisition Corp., Banks receiving payments from cannabis sales, and especially unlicensed cannabis dispensaries, could face regulatory penalties. Signature Bank, Bank of America Corp., See our commentary here.)

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Banking Dispensary Retail Recreational 71

Veriheal

APRIL 14, 2022

Banking has been a hurdle for cannabis businesses since the birth of the industry. While the federal SAFE Banking Act —which seeks to provide banking protections for cannabis businesses—continues to hit road bump after road bump in the U.S. The Cole Memo, however, did not require banks to serve cannabis-related companies.

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Cannabis Law Report

JULY 23, 2020

Expanding on its hemp exchange, cryptocurrency and cooperative farming program, Swissx is offering microloans for land and equipment in the Golden State Malibu, CA, July … Read More.

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Programs Banking Hemp Cannabis 86

Cannabis Law Report

AUGUST 17, 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. Expand required federal guidance and reports to promote equity alongside diversity and inclusion.

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Banking Access Research and Development Compliance 98

Cannabis Life Network

APRIL 6, 2020

TORONTO — Devastated bars and lounges, as well as the country’s hard-hit cannabis sector, will finally have access to $40 billion in new credit being made available via the government’s business bank during the COVID-19 crisis, its CEO said on Sunday.

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Banking Programs Access Business 61

Cannabis Law Report

AUGUST 5, 2021

Here’s the press release… National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors.

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Banking Compliance Compliance Law 111

Canna Law Blog

AUGUST 17, 2023

Oregon’s governor recently vetoed an effort to create a state bank for marijuana businesses, in another blow to the struggling industry. The lack of consistent, equitable access to banking has been recurring issue for Oregon marijuana businesses and those in other states.

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Banking Marijuana Legislation Business 52

Cannabis Law Report

SEPTEMBER 28, 2021

National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors. Says the headline.

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Banking Compliance Compliance Law 98

Veriheal

JULY 2, 2020

Louisiana has had a medical cannabis program for many years. In late May, Louisiana lawmakers discussed a bill that would significantly expand the state’s medical cannabis program and offer access to thousands of more patients in the state that may benefit from cannabinoid therapies. The Bill as Passed.

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Banking Programs Therapy Conditions 52

Medical Marijuana Program Connection

MAY 12, 2023

“With the right balance, the SAFE Banking Act can help close the gap, be a powerful force for good and. Read More

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Banking Access Programs Marijuana 52

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.”. Cannabis Program Manager, City of Portland, Oregon; Chair, Cannabis Regulators of Color Coalition; and Adjunct Professor, LIM College.

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Banking Access Research and Development Policy 52

MassRoots

JULY 28, 2020

One of the most important pieces of cannabis related legislation, the Secure and Fair Enforcement Banking Act ( SAFE Banking Act ), has the chance to be included in the next round of COVID-19 relief legislation in the United States. Tell them to support the inclusion of the SAFE Banking Act. Don’t wait.

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Banking Legislation Business Programs 66

Cannabis Law Report

AUGUST 12, 2021

The 14 people who will oversee Alabama’s new medical marijuana program will gather for the first time Thursday. The panel faces several deadlines to set up the rules to launch what will be a fully intrastate program. The Alabama Medical Cannabis Commission, created by legislation that passed in May, will meet at 1 p.m.

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Programs Seed-To-Sale Agriculture Legislation 105

MassRoots

AUGUST 4, 2020

The California Cannabis Industry Association (CCIA) is calling for cannabis businesses to join them in imploring Speaker Pelosi to prioritize the Secure and Fair Enforcement Banking Act (SAFE Banking Act). What is the SAFE Banking Act? CCIA and The Liaison Group have been working tirelessly behind the scenes on SAFE Banking.

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Banking Access Business Programs 52

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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Banking Hemp Compliance Compliance 65

Canna Law Blog

APRIL 9, 2020

On March 31, 2020, Washington State Governor Jay Inslee signed HB 2870 , which “creates a new social equity program that provides business opportunities to people from disproportionately-harmed communities so they can benefit economically from the cannabis industry and become a cannabis retailer.”

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Programs Retail Legislation Business 91

SpeedWeed

MARCH 18, 2021

Cannabis and Banking. banks and credit unions are reluctant to work with cannabis businesses because of concerns surrounding the federal illegality of cannabis. often scares away financial institutions, forcing the cannabis industry to either be sneaky about how they do their banking or deal mostly in dangerous amounts of cash. .

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Banking Compliance Compliance Access 52

Cannabis Law Report

OCTOBER 28, 2021

Wayne-based Valley National Bank, a subsidiary of Valley National Bancorp, is creating a new digital payment platform designed specifically for cannabis-related businesses. Valley is one of the largest national banks serving multi-state cannabis-related business operators. NJB News reports. ON OCT 27, 2021.

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Banking Compliance Compliance Programs 52

Cannabis Law Report

FEBRUARY 5, 2020

The “Roadmap to Cannabis Banking & Financial Services”, aims to increase the number of financial service providers in Colorado who serve the state’s legal marijuana and industrial hemp industries. 1595, the Secure and Fair Enforcement Act of 2019 (SAFE Banking Act). Roadmap to cannabis banking_January 2020. “As

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Banking Safety Business Cannabis 69

Cannabis Law Report

OCTOBER 26, 2021

NEW YORK–(BUSINESS WIRE)– Valley National Bank , a subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today that it is creating a new digital payment platform designed specifically for cannabis-related businesses. Valley is one of the largest national banks serving multi-state cannabis-related business operators.

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Banking Business Compliance Compliance 52

Cannabis Law Report

DECEMBER 1, 2021

Since the United States classifies cannabis as a Title IV drug, the banking industry is unwilling and unable to provide services to cannabis operations. There’s even a loyalty program. Wedding stayed with Harborside for 13 years, where he oversaw the dispensary’s operations, inventory management, and banking relationships.

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Banking Dispensary Wellness and Beauty Retail 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

Cannabis Law Report

SEPTEMBER 14, 2021

Abrigo, the leader of compliance, credit risk, and lending solutions for financial institutions, today announced its partnership with Green Check Verified (GCV), the top provider of cannabis banking solutions for financial institutions. Abrigo partners with Green Check Verified to expand cannabis banking support to financial institutions.

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Banking Compliance Compliance Business 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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Banking Hemp Environment Access 72

SpeedWeed

AUGUST 27, 2021

Jushi also expects to bring additional Sèche flower product lines, along with its award-winning flower brand, The Bank, to Ohio medical cannabis patients in the first quarter of 2022. The post Alabama’s Medical Cannabis Program Could Be Delayed appeared first on SpeedWeed. ” View original article.

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Programs Banking Research and Development Dispensary 52

Cannabis Law Report

SEPTEMBER 30, 2021

.–(BUSINESS WIRE)– #cannabisbanking –NatureTrak, the leading compliance and risk management solution for financial institutions serving the cannabis industry, today announces its newest customer, Southwest Capital Bank. ” To learn more about NatureTrak, visit www.naturetrak.com.

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Banking Compliance Compliance Business 52

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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Banking Compliance Compliance Policy 45

Canna Law Blog

APRIL 6, 2019

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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Banking Hemp Access Business 77

Cannabis Law Report

JUNE 16, 2019

On May 13th New Jersey’s Department of Health (“DOH”) amended it Medicinal Marijuana Program Rules, N.J.A.C. Phil Murphy’s Executive Order #6 tasking the DOH with reviewing all Medicinal Marijuana Program (“Program”) aspects to expand access and eliminate bureaucratic barriers. 24:6I-1, Et.

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Canna Law Blog

JULY 11, 2020

On Wednesday, July 8, 2020, a bipartisan group of sixteen state treasurers, led by Oregon Treasurer Tobias Read, sent a letter to congressional leaders requesting that the next piece of COVID-19 relief legislation include the SAFE Banking Act.

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Banking Legislation Safety Business 62

SpeedWeed

APRIL 2, 2021

The SAFE Banking Act is back in Congress, and political momentum is swinging in favor of the cannabis industry’s need to normalize its relations with financial institutions. Here, we spoke with Safe Harbor Services Vice President Amanda McComb about some of the recent trends and changes that she’s seen in banking the cannabis industry.

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Banking Compliance Compliance Business 52

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account. . PUBLISHER: CANNABIS LAW REPORT. THC when it is harvested and tested? .

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Banking Hemp Business Agriculture 45

The Blunt Truth

DECEMBER 9, 2021

It looks like marijuana banking will not be part of the NDAA. Federal assistance with state expungement programs might be on the table. marijuana banking. Advocates of allowing the banking industry to serve cannabis businesses have seen many opportunities to enact legislation come and go. federal expungement.

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Cannabis Law Report

JUNE 28, 2022

DENVER – June 23, 2022 – Denver Economic Development & Opportunity (DEDO) has launched a targeted entrepreneurial assistance program for aspiring cannabis business owners that is specifically designed to boost ownership among individuals disproportionately impacted by marijuana prohibition and enforcement.

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Programs Access Business Banking 52

The Blunt Truth

SEPTEMBER 29, 2023

The big news this week is that, for the first time ever, a cannabis bill, the SAFER Banking Act, got a markup in the Senate. SAFER BANKING Although the SAFE Banking Act has passed multiple times in the House of Representatives, it’s never gotten out of committee in the Senate. Spoiler alert: the two don’t mix.

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Banking DEA Legislation Decriminalization 93

Cannabis Law Report

JUNE 1, 2022

For many, it feels like Alabama’s medical cannabis program has been a work in progress for years. In addition to providing a full suite of legal services to cannabis companies, Whitt and the Cannabis Industry team advise non-cannabis clients – from banks to…. It was a year ago when this all started. Elizabeth R. She earned a B.A.

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Programs Banking Cultivation Patients 52

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

The guidance offers reassurance to credit unions following the 2018 Farm Bill, which federally legalized hemp, but failed to address banking in the hemp industry, leaving the banking industry uncertain as to their capacity to legally serve the industry. I’ve seen dispensary employees have their bank accounts shut down.

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