Canna Law Blog

APRIL 14, 2019

The SAFE Banking Act just got a new, prominent supporter – on April 9, 2019, Treasury Secretary Steven Mnuchin pledged to take a look at the legislation that would allow financial institutions to service cannabis businesses. As we’ve previously written about, there have been several calls for clarity on this banking issue.

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Banking Legislation State Laws Business 74

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 67

MassRoots

FEBRUARY 11, 2019

It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it.”. It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it. It also allows legal cannabis businesses to have access to normal banking services, permits U.S.

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Legalization Marijuana Legislation Policy 111

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

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.

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Legislation Decriminalization Hemp Patients 188

NORML

FEBRUARY 22, 2019

Legislation is pending, House Bill 2149, to amend the definition of “cannabis” under the 2010 voter-approved medical marijuana law. Click here to email your lawmakers in support of banking access. Click here to email your lawmakers in support of banking access. IL resident? NV resident? WV resident?

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Legislation Hemp Compliance Compliance 191

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. Cannabis banking should be a priority,” stated OLCC Chair Paul Rosenbaum. He continued, “This is certainly an achievable policy step that will save lives – now.”.

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Banking Business Access Safety 52

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 156

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

SEPTEMBER 20, 2019

Mj Biz report…… A bill that would create a federal safe harbor for financial institutions to serve state-lawful cannabis businesses and ancillary companies will be put to a landmark vote in the U.S. Hoyer, D-Maryland, announced on the House floor that he will schedule the SAFE Banking Act for a vote.

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Banking Collective State Laws Policy 45

Cannabis Law Report

JUNE 30, 2021

More importantly to Thomas, addressing the gulf between the country’s de facto and de jure marijuana policy fits within a larger project of his (and other conservatives) that would see a reduced role for the federal government in many areas of the law. Cash-based operations are understandably enticing to burglars and robbers.

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Banking Strains Law State Laws 78

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. Senate Bill 45 would make this policy consistent for juvenile offenders. CA resident? Click here to email your lawmakers in support of expungement expansion.

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Legislation Access Decriminalization Patients 113

NORML

MAY 31, 2019

Legislation is pending, House Bill 2980 / Senate Bill 2023, to amend the Illinois Banking Act and the Illinois Credit Union Act in a manner that facilitates banks and other financial institutions to safely conduct transactions with licensed marijuana businesses. Click here to email your lawmakers in support of banking access.

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Legislation Banking Access Hemp 118

Canna Law Blog

MAY 14, 2019

Banking , intellectual property , food and beverage (and cosmetics ), international trade , domestic trade , state laws , ag production contracts , etc., law with respect to cannabis. When it comes to industrial hemp, the 2018 Farm Bill upended all of these things. That exchange takes U.S. So what does this mean for U.S.

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Hemp CBD Policy Banking 76

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?

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Legislation Hemp Access Patients 187

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. His corporate practice focuses primarily in the areas of mergers and acquisitions, corporate finance, capital raising (debt and equity), and bank regulatory compliance.

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Banking Law Compliance Compliance 40

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?

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Legislation Hemp Compliance Compliance 156

SMPL

AUGUST 14, 2019

The American Bar Association (ABA) adopted a resolution on Monday that calls on Congress to allow states to set their own marijuana policies and recommends rescheduling or descheduling cannabis under federal law. The report goes on to describe how its recommendations would help resolve some of these issues.

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Policy Research and Development Marijuana DEA 40

Cannabis Law Report

MARCH 5, 2020

State budget forecasters are banking on a robust kickoff, however, estimating $5 million in sales by the end of the month. Maine is “very close” to issuing the first round of conditional recreational business licenses, said Erik Gundersen, the director of the Office of Marijuana Policy. Read their full report at.

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Dispensary Safety Conditions 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.

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Hemp Business Cultivation Banking 71

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. We don’t get involved with micro-managing credit unions,” he said.

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Banking Compliance Compliance State Laws 40

Cannabis Law Report

JUNE 27, 2019

On June 11, 2019, the House Appropriations Committee passed spending legislation which provides new protection to financial institutions that provide banking services to marijuana businesses. There also is a parallel banking bill currently pending in the Senate that has 30 co-sponsors.

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Legislation Banking State Laws Business 40

Cannabis Law Report

FEBRUARY 4, 2019

You can read more about product packaging and labeling requirements on the Understanding Board Interim Policies for Packaging and Labeling section of the LCB website. The policy only applies to approved owners who are investing their own personal money into the business. Have lost their bank. Payment Methods.

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Topical Packaging Retail Legislation 65

Cannabis Law Report

MARCH 26, 2020

In short, federal anti-drug laws continue to define the state-authorized cannabis industry, and those who work in it, as drug felons. That is why these businesses continue to face undue discrimination under federal law, including the lack of access to banking services and a prohibition of standard business tax deductions.

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Business Legislation Access Policy 59

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.

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Banking Safety Business Legislation 40

Cannabis Law Report

APRIL 24, 2019

Let’s begin with the following: STATES Act Becomes Law. The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. See The Murky Part of the STATES Act: Tribal Rights ].

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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.

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The Joint Blog

JUNE 24, 2020

They ranged from minor moves, such as tweaking a definition to match language in state law, to potentially major ones, such as limiting delivery licenses until 2025 only to businesses that meet so-called social-equity benchmarks. The intersection “between cannabis policy and racial injustice is clear to me,” Packer said.

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Marijuana Programs Banking Business 52

Cannabis Law Report

DECEMBER 23, 2019

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. State regulators announced enforcement actions all over the State which then resulted in the first round of charges against operators violating state law.

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Law Banking Hemp Retail 59

Marijuana Lawyer Blog

APRIL 15, 2019

California employers long have long availed themselves of their right – as affirmed by the state’s high court – to carry out zero tolerance policies against workers who use drugs – even if that drug use takes place off-the-job. The History of Employer Zero Tolerance Policies.

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SpeedWeed

MARCH 10, 2021

While it may seem like state legalization is a green light for cannabis businesses to open up on every corner, it’s not quite that simple. Every city, town, and municipality in the country has its own unique set of policies. Some progress has been made with the SAFE Banking Act , however, more work needs to be done.

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Business Banking Seed-To-Sale Research and Development 52

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. Policy on permissible activity.

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Compliance Compliance State Laws Law 45

Cannabis Law Report

OCTOBER 27, 2019

The Tax Court enforces federal tax laws. The Tax Court enforces federal tax laws. The Tax Court will only reluctantly consider policy. 280E applies to businesses operating legally under State law, notwithstanding its use of the word “trafficking. 280E is unconstitutional are well settled law. Judge Mark V.

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State Laws Dispensary Business Policy 45

Connor & Connor PLLC

NOVEMBER 27, 2019

Like any new or emerging industry, governmental regulations and policies are constantly changing as time progresses. Not only are banks reluctant to lend money to dispensary operators but they are federally prohibited from doing so. You will not be able to work with a bank because marijuana is federally illegal. 2] [link]. [3]

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Dispensary Retail Recreational Business 69

Cannabis Law Report

SEPTEMBER 27, 2021

The Cannabis Growth ETF will be traded on the NYSE ™ , and will pursue the identical investment objective, apply the same investment policies and use the same principal investment strategies as the Fund. About Foothill Capital.

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Banking Access Cannabis Safety 40

Cannabis Law Report

JUNE 26, 2022

Bush’s national drug control strategy, Congress passed legislation to require schools, colleges and universities to implement and enforce drug and alcohol prevention programs and policies as a condition of eligibility to receive federal funds and assistance. Job Postings and Internships.

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