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Banking Woes and Wins for Hemp-CBD

Canna Law Blog

Our firm represents a number of financial institutions and even a federal agency on banking state-legal cannabis. The number one question we have received lately is: “do you know a bank or credit union that will bank my hemp-CBD business?” And here’s why.

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Weekly Legislative Roundup 1/18/20

NORML

The US House Energy and Commerce Subcommittee on Health will hold a legislative hearing entitled “Cannabis Policies for the New Decade.” ” This marks the first time that members of the Energy and Commerce Committee will hear and debate issues specific to marijuana policy reform. New Hampshire. NH resident? New Mexico.

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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. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

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Weekly Legislative Roundup 4/5/19

NORML

Legislation is pending, AB 286, to temporarily reduce tax rates imposed on the retail sale and commercial cultivation of cannabis. Senate Bill 45 would make this policy consistent for juvenile offenders. Click here to email your lawmakers in support of banking access. California. CA resident? DE resident? IL resident?

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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. MN resident?

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The Week in Weed: February 21, 2020

The Blunt Truth

District Attorney Jackie Lacey indicated that her office has dismissed felonies for cultivation, transporting, or sales for persons meeting certain requirements. Senator Crapo gets lots of correspondence on this topic; last month, he heard from House members, who wanted him to push banking legislation forward. See you next week!

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Weekly Legislative Roundup 3/29

NORML

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. It now awaits consideration by the U.S.