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House COVID Package Includes Cannabis Banking Relief, But Not Small Business Support

NORML

Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. Members of the House of Representatives voted 321 to 103 in favor of the Act in September.

Packaging 301
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Understanding Cannabis Banking Challenges and How to Overcome Them

Connor & Connor PLLC

Since cannabis remains federally illegal, many banks, who run on a risk-based assessment, refuse to do businesses with cannabis companies. and Guam having fully legal operating cannabis markets under their own laws, banks are put in an awkward position because of the inconsistencies between state and federal law.

Banking 52
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NORML Canada Launches Post-Legalization Platform on One Year Anniversary of Marijuana Legalization

NORML

NORML Canada launches official Post-Legalization platform to focus advocacy efforts on reforming Canada’s legal Cannabis system. Our goal is to ensure consumers have ease of access to legal cannabis products, access to medical dispensaries, access to world-class product options, as well as access to affordable legal options.

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Study: Cannabis Retailers Associated with Drop in Localized Crime

NORML

A pair of senior economists affiliated with the Federal Reserve Bank of Philadelphia assessed the local effects of retail dispensaries on neighborhood crime in Denver, Colorado. The effect of marijuana legalization on neighborhood crime,” is online here. The abstract of the study, “Not in my backyard? Not so fast.

Retail 221
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FinCEN Reports on Cannabis Banking and the SAFER Act

Veriheal

Every day, hundreds and thousands of people walk into cannabis dispensaries in legal states to purchase cannabis. Many financial institutions seek to be a part of the cannabis banking movement. In the past year, 553 banks and 202 credit unions provided their services to cannabis-related businesses.

Banking 114
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Unique Banking Challenges MSOs Encounter

Cannabis Law Report

While the rules and regulations vary from state to state, that has not limited some dispensaries from opening locations in several regions. These multi state operators (MSOs) need to take the specific requirements of each state into account in every aspect of their business, from product types offered to how they bank.

Banking 87
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Study Looks at Psychedelics’ Belief-Altering Powers, Minnesota Inches Toward Rec. Cannabis, and Montana’s Cannabis Banking Bill

Veriheal

A study looked at the link between psychedelics and spirituality, Minnesota is closing in on recreational cannabis, and Montana is looking to make cannabis banking easy. Cannabis Bill Minnesota residents received some thrilling news this week as the state Senate passed a bill to legalize recreational cannabis.

Banking 98