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.

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Banking Hemp Compliance Compliance 86

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.

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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.

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Legalization Marijuana Legislation Policy 111

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*.

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Banking Safety Cannabis Business 67

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.

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Legislation Banking Hemp Compliance 204

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.

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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.

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Hemp CBD Legalization Banking 105

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.

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Legislation Hemp Decriminalization Agriculture 207

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.

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Legislation Decriminalization Hemp Patients 195

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?

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Legislation Decriminalization Access Patients 251

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?

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Legislation Hemp Compliance Compliance 192

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.

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Banking DEA Recreational Packaging 105

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).

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Banking Compliance Compliance Business 52

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.

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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.

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Legislation Hemp Patients Compliance 167

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.”

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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.

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Banking Hemp Cannabis Business 78

The Cannigma

MARCH 12, 2021

Listen & Subscribe: Very few medical cannabis advocates are against the full legalization of the plant for all adults. But sometimes one unintended consequence of adult-use legalization is that the market no longer caters to medical patients. What is the relationship between medical and recreational legalization?

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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.

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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.

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Banking Business Access Safety 52

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?

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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?

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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.

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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?

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Legislation Hemp Access Patients 192

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.

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Banking Supply Chain Seed-To-Sale Data 45

The Blunt Truth

SEPTEMBER 3, 2020

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Florida has legalized medical marijuana edibles. Nebraska Secretary of State Bob Evnen approved a medical marijuana initiative to appear on the November ballot late last week. There’s now CBD for elephants.

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DEA CBD Banking Edibles 98

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. .

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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.

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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.

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Cannabis Law Report

JULY 22, 2019

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. Credit Union National Association President and CEO Jim Nussle illustrated this point by stating, “[a]t its heart, cannabis banking is a public safety issue.

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Banking Safety Business Cannabis 40

Veriheal

JULY 22, 2020

Whether veterans live in a state with a legal cannabis market or not has nothing to do with how medicine is obtained. Despite 33 states having legal, medical cannabis programs in the United States, the majority of veterans who utilize cannabis obtain it from the illicit and unregulated market. . The Federal Fog.

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Cannabis Law Report

AUGUST 26, 2019

Currently, thirty-three states, the District of Columbia, Guam and Puerto Rico have all legalized the use of marijuana to some degree. The rift between federal and state law has left banks trapped between their mission to serve the financial needs of their local communities and the threat of federal enforcement action.

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Banking Cannabis Events Law 59

Cannabis Law Report

APRIL 24, 2019

CPA’s “ PUBLISHER: CANNABIS LAW REPORT. Federal Legalization – Then What? Let’s think through a couple of scenarios and have a peek at the landscape in a post-legalization world. Let’s begin with the following: STATES Act Becomes Law. Federal Legalization – Then What?

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Cannabis Law Report

JUNE 30, 2021

Calling the broader situation a “contradictory and unstable state of affairs,” Thomas wrote that the current legal landscape “strains basic principles of federalism and conceals traps for the unwary.” Cash-based operations are understandably enticing to burglars and robbers.

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Banking Strains Law State Laws 78

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. While hemp and marijuana are both derived from the plant Cannabis sativa L, they are legally distinguished on both a federal and state level by their THC content.

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Banking Law Compliance Compliance 40

Cannabis Law Report

JULY 6, 2022

Dafna Revah, co-founder and co-owner of cannabis dispensary CBD Kratom, had a lot of explaining to do when her bank referred her to a record keeper willing to provide her company with a 401(k) plan. ” None, she repeatedly explained, had Delta-9 THC, the cannabinoid that is illegal under federal law. ” Ms.

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The Joint Blog

JUNE 15, 2021

From CBD to edibles to medical marijuana, legal cannabis has become the fastest-growing industry in the U.S. If you have your heart set on starting your very own cannabis, then you probably will be wondering where to legally get marijuana seeds from? Know your State Laws. States that have a complete marijuana ban.

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