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Weekly Legislative Roundup 2/22

NORML

New Jersey lawmakers have come to an agreement with Governor Murphy regarding retail marijuana tax rates, settling on charging sales tax by weight as opposed to a specific percentage. Senate Bill 1003 / House Bill 2273 to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

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Weekly Legislative Roundup 3/8/19

NORML

This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. Actions to Take.

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Shield Compliance and POSaBIT Bring Compliant Cannabis Banking and Payments to the Industry

Cannabis Law Report

The alliance showcases the strengths of both organizations: Shield Compliance offers a purpose-built AML/BSA compliance management software solution that enables financial institutions to unlock new revenue and scale cannabis banking operations. POSaBIT puts compliance at the center of everything it does.

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Southwest Capital Bank Strengthens Its Commitment to Cannabis Businesses with NatureTrak’s State-of-the-Art Compliance & Risk Management Technology

Cannabis Law Report

.–(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.

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Northern Redwood Federal Credit Union Shifts Compliance & Risk Management Capabilities to NatureTrak

Cannabis Law Report

.–(BUSINESS WIRE)– #cannabisbanking — NatureTrak , the leading compliance and risk management solution for financial institutions serving the cannabis industry, today announces its newest customer, Northern Redwood Federal Credit Union. To learn more about NatureTrak, visit www.naturetrak.com. About NatureTrak.

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American Banker Article: BankThink A tech solution to the pot banking problem

Cannabis Law Report

Many legal cannabis suppliers and retailers are being forced to operate in a cash-intensive market due to federal laws that limit access to traditional banking. And this is particularly concerning for the legal cannabis market that’s expanding to $12 billion in sales this year, with projections to reach $30 billion in four years.

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The Economic Impact of the Medical Marijuana Industry: Trends and Projections

MMJ Recs

This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. The establishment of cultivation, processing, and dispensary facilities creates a diverse array of employment opportunities, spanning from agricultural roles to retail positions.