The Blunt Truth

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 78

Hemp Business Compliance Compliance 78

NORML

APRIL 5, 2019

Under state law, adults face civil penalties for minor marijuana possession offenses. 333, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. Send a DE resident? FL resident?

Legislation 199

Legislation Banking Hemp Compliance 199

Cannabis Law Report

JANUARY 5, 2022

StandardC, a leader in cannabis & marijuana banking and financial services, announced today that its lending partner had closed the first $5 million loan from their newly established $200M fund for a leading marijuana cultivator using the StandardC platform.

Banking 52

Banking Marijuana Compliance Compliance 52

NORML

FEBRUARY 22, 2019

Legislation is pending, House Bill 2149, to amend the definition of “cannabis” under the 2010 voter-approved medical marijuana law. 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. AZ resident? Connecticut.

Legislation 189

Legislation Hemp Compliance Compliance 189

NORML

JUNE 23, 2019

Governor Kate Brown (D) signed legislation into law to to automatically conduct a review of past misdemeanor cannabis convictions, and to “set aside” offenses that are no longer a crime under state law. Click here to email your lawmakers in support of banking access. CA resident? DE resident? Update : S.

Legislation 200

Legislation Hemp Decriminalization Agriculture 200

Cannabis Law Report

AUGUST 4, 2022

. §856 which states that it is unlawful to lease or lend money on any place involved in using, manufacturing, or distributing any controlled substance. The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S. Bank, with a mortgage on the property.

Compliance 52

Compliance Compliance Banking Business 52

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program. House Judiciary Committee.

Legislation 183

Legislation Decriminalization Hemp Patients 183

Cannabis Law Report

DECEMBER 14, 2019

On December 3, 2019, four federal agencies, in consultation with state banking regulators, clarified the legal status of hemp growth and production under the Bank Secrecy Act (BSA) for banks 1 providing financial services to hemp-related businesses. JD Supra Release. The Joint Statement.

Hemp 59

Hemp Business Banking Agriculture 59

The Joint Blog

MARCH 5, 2020

Passage of the [Secure and Fair Enforcement] Banking Act or similar legislation will provide security for lawyers and firms acting to advise companies in the industry against having their accounts closed or deposits seized,” a report attached to the ABA resolution states.

Banking 52

Banking Marijuana Compliance Compliance 52

Otherside Farms

MAY 5, 2020

Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives. Generally, the FDIC will not insure a bank that takes on “existential” risks, which include loans to companies in violation of federal law. Most banks are under the federal government.

Business 52

Business Banking Seed-To-Sale Compliance 52

Cannabis Law Report

AUGUST 6, 2019

Regulators won’t punish credit unions simply for working with marijuana businesses that are operating in compliance with state laws, the head of the federal agency that oversees the financial services providers said in a new interview. Read the full report at.

Banking 40

Banking Compliance Compliance State Laws 40

Cannabis Law Report

SEPTEMBER 10, 2019

Within its memorandum to members, the NCUA provided: 1) a summary of repercussions generated by the 2018 Farm Bill, 2) specific compliance program concerns with regard to the Bank Secrecy Act (BSA) and Anti-Money Laundering Act (AML), and 3) considerations under existing NCUA regulations for lending.

Hemp 45

Hemp Business Compliance Compliance 45

Canna Law Blog

OCTOBER 30, 2019

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.

Business 44

Business Banking Programs Compliance 44

NORML

MARCH 22, 2019

House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Activists in Oregon have filed a 2020 ballot initiative with the Secretary of State that, if approved, would allow social cannabis consumption sites and protect consumers from employment discrimination.

Legislation 150

Legislation Hemp Patients Compliance 150

NORML

MAY 31, 2019

Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. Click here to email your governor in support of medical cannabis access. AL resident? IL resident?

Legislation 116

Legislation Banking Access Hemp 116

NORML

MAY 24, 2019

Click here to email your lawmakers in support of banking access. This measure prohibits employers from arbitrarily discriminating against prospective employees who legally consume cannabis off-the-job in accordance with state law. Update : SB 51 was approved by the Senate on 5/21/19, and now heads to the Assembly. CA resident?

Legislation 183

Legislation Hemp Access Patients 183

NORML

MAY 17, 2019

Click here to email your lawmakers in support of banking access. LD 991 also seeks to expunge the records of those convicted of marijuana related offenses that are no longer defined as criminal under state law. Update : SB 51 was heard in the Senate Appropriations Committee on 5/13/19 and 5/16. CA resident? ME resident?

Legislation 150

Legislation Hemp Compliance Compliance 150

NORML

APRIL 20, 2019

Click here to email your lawmakers in support of banking access. Legislation is pending, Senate Bill 19-220, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. CA resident? Click here to email your lawmakers in support of cannabis delivery services.

Legislation 168

Legislation Decriminalization Hemp Compliance 168

NORML

JUNE 28, 2019

Click here to email your lawmakers in support of banking access. Under state law, adults face civil penalties for minor marijuana possession offenses. Legislation is pending, Senate Bill 315, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations.

Legislation 111

Legislation Access Decriminalization Patients 111

Cannabis Law Report

DECEMBER 12, 2019

Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. Cook Investments NW involved several real estate holding companies filing Chapter 11 in Washington State. Federalism questions also arise involving compliance with federal banking and tax laws.

Compliance 59

Compliance Compliance Chronic Pain Banking 59

Canna Law Blog

AUGUST 23, 2019

Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. Financial institutions that work with marijuana businesses must conduct due diligence to ensure that marijuana businesses are complying with state law.

Hemp 72

Hemp Business Cultivation Banking 72

Canna Law Blog

DECEMBER 6, 2022

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

Banking 87

Banking Compliance Compliance State Laws 87

Cannabis Law Report

NOVEMBER 6, 2021

. “Make sure your engagement letters are appropriately written to clearly describe your scope of services and include provisions requiring your client to affirm it is operating legally under applicable state laws,” she said. Because of that, there is a lot of cash flowing through the industry, Velazquez said.

Banking 52

Banking THC Hemp Cannabis 52

SpeedWeed

MARCH 24, 2021

In the latest episode of the Cannacurio Podcast from Cannabiz Media, I speak with Tony Repanich, President and Chief Operating Officer of Shield Compliance , a comprehensive compliance management platform for banking cannabis-related businesses. I spent 25 years in community banking and I loved it. Welcome, Tony.

Compliance 52

Compliance Compliance Banking Data 52

Cannabis Law Report

APRIL 23, 2019

Prior to getting involved in Tax Law, Dionne was a litigator for several years, representing Lenders, Banks and Servicers in Foreclosure actions. I lived in Colorado for a few years, and had the pleasure of working with a logistics company that legally transported money and products throughout the entire State.

Banking 45

Banking Marijuana Law Business 45

Cannabis Law Report

JULY 22, 2019

In a joint op-ed in Fox Business today, American Bankers Association President and CEO Rob Nichols and Credit Union National Association President and CEO Jim Nussle called on lawmakers to resolve the existing conflict between federal and state law with respect to proceeds from cannabis-related businesses.

Banking 40

Banking Safety Business Legislation 40

Cannabis Law Report

MARCH 17, 2020

As Congress is considering legislation to provide banks with a safe harbor for providing services to those in the cannabis industry, other areas, from financial services to soft drink manufacturers, are actively assessing how the explosion of this new market will impact their products and services. Compliance program.

Compliance 59

Compliance Compliance State Laws Law 59

SMPL

AUGUST 14, 2019

Though ABA specified that it was not taking a position on marijuana legalization generally, it recognized that conflicting federal and state cannabis policies are untenable and have created complications for cannabis businesses operating in compliance with state law.

Policy 40

Policy Research and Development Marijuana DEA 40

Canna Law Blog

NOVEMBER 16, 2023

We are helping build out another cannabis banking program here in Oregon. My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to 2014. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking.

Banking 86

Banking Business Cannabis Hemp 86

Cannabis Law Report

JUNE 15, 2022

In addition, the licensees must execute a management agreement with a third-party operator to manage and operate the remaining facilities that the department will continue to permit in compliance with state law. PSCs are categories on an RSF to classify business based on known areas of anti-money laundering compliance issues.

Business 52

Business Marijuana Safety Banking 52

Cannabis Law Report

DECEMBER 23, 2019

It has been two years since California began licensing yet operators still struggle with compliance and are all still de facto, breaking one law or another. The Bureau of Cannabis Control (BCC) sent out 2,842 cease-and-desist letters to cannabis shops and businesses suspected of operating without state licenses.

Law 59

Law Banking Hemp Retail 59

Cannabis Law Report

FEBRUARY 4, 2019

WSLCB Enforcement officers will begin working with marijuana retailers to educate staff, check for violations, and take appropriate action to gain compliance. Licenses may apply for a payment waiver if they are able to show good cause by demonstrating they are: In the process of getting a bank account. Have lost their bank.

Topical 65

Topical Packaging Retail Legislation 65

Marijuana Lawyer Blog

APRIL 15, 2019

Attorney General said he’d favor a new bill protecting cannabis businesses and users from federal prosecution as long as they were in compliance with federal law. This measure has broad bipartisan support, as does another that would shield banks doing business with these companies from federal money laundering charges.

Policy 45

Policy Banking Programs History 45

Cannabis Law Report

JUNE 26, 2022

There also exist certain requirements to demonstrate compliance with the Regulations. IHEs may also be subject to related requirements under state and federal law and judicial rulings. Colleges offering these programs would also be required to comply with any state laws regulating the use of hemp.

Research and Development 52

Research and Development Education Programs Policy 52

Cannabis Law Report

MARCH 29, 2019

An-Chi Tsou is the principal at Tsou Consulting, LLC, specializing in state and local regulatory and legislative compliance, guidance, and advocacy. As most people know, state law provides very generous authority to local jurisdictions regarding operational requirements and standards. Authored By: An-Chi Tsou.

Law 45

Law Policy Programs Topical 45

Cannabis Law Report

MAY 2, 2019

Institutions must make sure cannabis businesses are not violating state laws or engaging in any other illegal activities. The CCA’s By-Laws can be found here. CCA is not a tracking service and is not a duplication of the state’s track-and-trace system. CCA currently has six member counties.

Data 45

Data Compliance Compliance Business 45

Connor & Connor PLLC

NOVEMBER 27, 2019

Proof of licensure with the applicable local government authority or a letter from the applicable local governmental authority certifying that the proposed medical marijuana establishment is in compliance with those restrictions and satisfies all applicable building requirements. 1] [link] ; [link] ; [link] ; [link] ; [link] ; [link]. [2]

Dispensary 69

Dispensary Retail Recreational Business 69