Cannabis Law Report

JUNE 4, 2021

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. What are some of the issues that impact an MSO’s ability to access banking? What are multi-state operators?

Banking 87

Banking Supply Chain Dispensary Business 87

Canna Law Blog

DECEMBER 5, 2019

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.

Banking 87

Banking Hemp Compliance Compliance 87

MassRoots

AUGUST 3, 2020

Even though more than half of the states in America have legalized some form of cannabis use, whether medical or recreational, the plant and its derivatives remain federally illegal. House Bill 418 aims to provide extra protection for those businesses that operate within the parameters of Louisiana state law.

Programs 124

Programs Banking Marijuana Conditions 124

MassRoots

FEBRUARY 11, 2019

420, my bill to legalize and responsibly regulate and tax marijuana,” Wyden tweeted on February 8. 420, my bill to legalize and responsibly regulate and tax marijuana. The first one, Small Business Tax Equity Act , proposes that legal cannabis businesses should be allowed to claim tax deductions just like any other small business.

Legalization 111

Legalization Marijuana Legislation Policy 111

NORML

APRIL 5, 2019

Senators Elizabeth Warren (D-MA) and Cory Gardner (R-CO), along with Representatives David Joyce (R-OH) and Earl Blumenauer (D-OR), have reintroduced The STATES Act of 2019. Governor Gary Herbert (R) of Utah signed legislation into law to allow those with certain misdemeanor cannabis convictions to have their records automatically expunged.

Legislation 210

Legislation Banking Hemp Compliance 210

Greenspoon Marder Cannabis Law Group Blog

JULY 19, 2019

Cannabis Banking. On Tuesday July 23, the Senate Committee on Banking, Housing, and Urban Affairs will discuss the growing need to provide banking services to cannabis businesses. Prior to the July 23 hearing, the SAFE Banking Act received widespread support among House members with 206 co-sponsors. & Victor Fox*.

Banking 67

Banking Safety Cannabis Business 67

NORML

JUNE 23, 2019

House of Representatives just voted to restrict the Department of Justice from interfering with the states that have legalized adult-use marijuana. Governor John Bel Edwards (D) of Louisiana signed legislation into law to deschedule hemp and hemp-derived CBD from the state’s list of controlled substances.

Legislation 214

Legislation Hemp Decriminalization Agriculture 214

Cannabis Law Report

MAY 28, 2022

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking.

Banking 52

Banking State Laws Law DEA 52

Cannabis Law Report

JUNE 8, 2021

Rod Discusses Legal Challenges Facing Hemp and CBD with The CBD Guide. Some of the biggest legal challenges that cannabis businesses face, such as the lack of access to banking, and merchant processing. Some of the biggest legal missteps CBD businesses make, and how they can be avoided.

Hemp 105

Hemp CBD Legalization Banking 105

NORML

MARCH 29, 2019

House Financial Services Committee has passed The Safe Banking Act, HR 1595 out of committee this week. Guam became the first US territory to send a bill legalizing the adult-use of marijuana to the governor’s desk in 2019. Update : There was a Public Hearing for SB 1085 on 3/22 after its passage out of the General Law Committee.

Legislation 199

Legislation Decriminalization Hemp Patients 199

NORML

JANUARY 19, 2020

The bill would prohibit employers terminating an employee for the employee’s lawful off-duty activities that are lawful under state law even if those activities are not lawful under federal law, such as consuming cannabis. Send a message to your lawmakers in support of legalization. CO resident?

Legislation 253

Legislation Decriminalization Access Patients 253

NORML

FEBRUARY 22, 2019

At the state level, the North Dakota House of Representatives defeated a decriminalization bill on the House floor by a narrow 43-47 vote. On the same day, LegalizeND announced that they will try again with a 2020 legalization ballot initiative. Click here to email your lawmakers in support of banking access. IL resident?

Legislation 194

Legislation Hemp Compliance Compliance 194

Veriheal

OCTOBER 22, 2021

Most New Yorkers can now safely indulge in cannabis without fear of being fired, Bank of America is under fire for closing the account of an authorized cannabis research institute, and proposed legislation could help Washington, D.C. Bank of America Closes Account of DEA-Approved Cannabis Researcher. if enacted.

Banking 105

Banking DEA Recreational Packaging 105

SpeedWeed

MARCH 20, 2021

The US House just reintroduced the Secure and Fair Enforcement ( SAFE ) Banking Act, an act that if passed, would help the cannabis industry have access to financial services. Because cannabis is still federally illegal, cannabis businesses have difficulty accessing banking , credit card processing, and business deductions for taxes.

Banking 52

Banking Legalization Safety Access 52

The Blunt Truth

OCTOBER 1, 2020

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Cannabis banking appears in the Democrats’ new stimulus bill. The Nebraska Supreme Court ruled in favor of CBD sellers in the state. A 2019 law legalized products below 0.3% cannabanking.

Decriminalization 113

Decriminalization Banking Legislation Access 113

NORML

FEBRUARY 8, 2019

Senator Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act — to permit states to establish their own marijuana regulatory policies free from federal interference. House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week.

Legislation 197

Legislation Decriminalization Patients Access 197

Cannabis Law Report

DECEMBER 7, 2021

Congress is making another run at providing a safe harbor to the banking industry and companies that provide services to cannabis businesses. On September 21, 2021, the House voted to include the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) 1 in the annual National Defense Authorization Act for Fiscal Year 2022 (NDAA).

Banking 52

Banking Compliance Compliance Business 52

Cannabis Law Report

JULY 11, 2022

The governor of Pennsylvania on Monday signed a bill that includes provisions to protect banks and insurers in the state that work with licensed medical marijuana businesses. Pro-legalization Gov. Pennsylvania Governor Signs Marijuana Banking And Insurance Reform Bill Into Law. Marijuana Moment report.

Banking 52

Banking Law Legislation State Laws 52

The Joint Blog

MAY 22, 2019

The Associated Press is reporting that California is quickly moving forward with a plan to establish a system of banks to work with the marijuana industry which is legal under state law, but illegal under federal law. statutes also prohibit banks from handling money that comes from criminal activity.

Banking 50

Banking Marijuana Retail Collective 50

Veriheal

DECEMBER 7, 2022

Operating cannabis-based businesses in The Golden State is no easy feat for retailers. With the plant’s legal status confined by the federal Controlled Substances Act (CSA ) boundaries, cannabis stores are still operating illegally. Due to the plant’s illegal status, banking cannabis business revenue can be tricky.

Business 104

Business Banking Advocacy Cannabis 104

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 168

Legislation Hemp Patients Compliance 168

The Joint Blog

FEBRUARY 20, 2019

Legislation that would protect banks who provide services to medical marijuana businesses has been passed by the full West Virginia House of Delegates. “The purpose of this section is to provide a solution to the banking problems encountered by the state in connection with the Act.”

Banking 48

Banking Marijuana Collective State Laws 48

The Blunt Truth

JULY 30, 2019

Industry expert panels discussed market trends, private equity, venture capital, family offices, and banking, as well as commercial real estate, which I had the opportunity to moderate. Institutional investors perceive too much legal risk and are prepared to wait. There was a real “don’t try this at home” attitude among the panelists.

Banking 78

Banking Hemp Cannabis Business 78

WeedAdvisor

SEPTEMBER 18, 2019

According to Forbes , one third of the Senate now supports the SAFE Banking Act, a bill that would provide dispensaries access to critical financial services. The fear of federal repercussions keeps major financial institutions for dealing with these businesses, despite their being compliant with state law. Skipping Ahead. .

Banking 45

Banking Dispensary Legislation State Laws 45

Cannabis Law Report

OCTOBER 31, 2019

Law Firm Manatt, Phelps & Phillips, LLP writes… The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships.

Banking 45

Banking Compliance Compliance Policy 45

Cannabis Law Report

JULY 1, 2022

Portland, OR. – Outdated federal barriers to banking services continue to severely impact the legal cannabis industry in Oregon and nationwide. While cannabis may be legal in Oregon, criminal enterprises are very aware of this impediment and target cannabis businesses. The OLCC Press Release.

Banking 52

Banking Business Access Safety 52

Cannabis Law Report

FEBRUARY 14, 2020

Mike Crapo urging him to support the SAFE Banking Act and hold a markup in the Senate Banking Committee. . The House of Representatives passed the SAFE Banking Act by a vote of 321-103 in September, with 91 Republicans voting in favor. We are a bipartisan group, with operations spread across the United States.

Banking 45

Banking Safety Environment Business 45

NORML

MAY 31, 2019

Governor Steve Sisolak (D) of Nevada signed legislation into law this week to allow individuals to get their records vacated for offenses that are no longer a crime in the state. Members of the New Hampshire Senate voted to delay consideration of a House-passed legalization bill until later this year. IL resident? IL resident?

Legislation 124

Legislation Banking Access Hemp 124

NORML

MAY 17, 2019

Governor Kevin Stitt (R) of Oklahoma signed legislation into law to permit the retail sale of hemp and hemp-derived CBD products. Governor Kim Reynolds (R) of Iowa signed industrial hemp production legislation into law. A New Hampshire House-passed legalization bill was held in a Senate committee for further study. CA resident?

Legislation 168

Legislation Hemp Compliance Compliance 168

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

Banking 40

Banking Hemp Marijuana Events 40

NORML

MAY 24, 2019

An activist group in North Dakota filed paperwork to begin petitioning for another adult use marijuana legalization ballot initiative in 2020. Click here to email your lawmakers in support of banking access. Welcome to the latest edition of NORML’s Weekly Legislative Roundup! CA resident? NV resident? OR resident?

Legislation 194

Legislation Hemp Access Patients 194

Cannabis Law Report

NOVEMBER 12, 2019

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. Banks face four significant challenges when servicing the cannabis industry, according to a California state-backed report.

Banking 45

Banking Supply Chain Seed-To-Sale Data 45

Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

Banking 40

Banking Hemp Safety Business 40

Cannabis Law Report

JUNE 5, 2019

House Democrats have introduced bipartisan legislation to address the conflict between states that have legalized cannabis within their borders for medical and/or personal use, and federal law, under which cannabis remains a Schedule I controlled substance. The Secure and Fair Enforcement (SAFE) Banking Act of 2019 , H.R.

Banking 40

Banking Compliance Compliance State Laws 40

Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. And that puts them and the Americans they do business with at risk. .

Banking 40

Banking Cannabis Business Safety 40

Cannabis Law Report

OCTOBER 26, 2019

The public safety concerns resulting from the dearth of cannabis banking has led dozens of state Attorneys General, the American Banking Association, and numerous other voices to urge the passage of legislation like the SAFE Banking Act so that the U.S. History of Marijuana Regulation and Banking Implications.

Banking 45

Banking Safety Business History 45

Cannabis Law Report

JULY 20, 2019

The banks actions will mean somebody at the FDIC will have to make some serious decisions that could lead to a number of ramifications for the cannabis sector not only in CA but also nationwide. A small California bank’s merger application could force the FDIC to take a firmer stand on marijuana banking.

Banking 40

Banking Data Media Business 40