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Attorneys General Push for Marijuana Banking Reform

NORML

Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.

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Newly Published Paper: Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act

Cannabis Law Report

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. Date Written: August 11, 2022. Clarify that cannabis criminal records are not an automatic red flag.

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IRS could collect taxes from cannabis firms if they used big banks, Yellen says

Cannabis Law Report

Treasury Secretary Janet Yellen said she supports allowing legal cannabis dispensaries to access the US banking system — where they’re now largely barred — to make it easier for the government to collect tax revenue.

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Paper: “Not a SAFE Bet: Equitable Access to Cannabis Banking, An Analysis of the SAFE Banking Act.”

Cannabis Law Report

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.”. But unfortunately, SAFE, as written, is unlikely to result in equitable access to financial services. 21 Pages Posted: 12 Aug 2022.

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ABA survey says majority of Americans support SAFE banking for hemp and cannabis businesses

Cannabis Law Report

consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. The American Bankers Association (ABA) hasb shared a new poll in conjunction with the Morning Consult showing that the majority of U.S.

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Bankers Associations From All States Send Letter To Push For SAFE Banking Passage ASAP

Cannabis Law Report

Banking associations representing all 50 states and one U.S. territory sent a letter to Senate leaders on Thursday, imploring them to include marijuana banking reform in a large-scale manufacturing bill that’s heading to bicameral conference. ABA and SBA Letter to the Senate Support SAFE Banking in America COMPETES Act 04282022.

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Federal Agencies Provide New Guidance for Hemp Banking

Canna Law Blog

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. Therefore, it’s not yet clear whether banks will service clients engaged in those activities.

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