Cannabis Law Report

SEPTEMBER 8, 2021

A lot of people are unaware that cannabis businesses still have a hard time finding banking solutions. Banks don’t want to work with these businesses because the federal government has not legalized marijuana yet. This means that there can be difficulty with finding cannabis banking solutions for your business.

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Banking Business Cannabis Retail 103

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

Canna Law Blog

MAY 26, 2019

Looks like marijuana banking is stuck, again. The banking associations from all 50 states and 1 U.S. territory sent a joint letter to leaders of the Senate Banking Committee on Monday, to urge advancement of bipartisan legislation that would protect financial institutions that service marijuana businesses.

Banking 96

Banking Marijuana Safety Legislation 96

Cannabis Law Report

JUNE 6, 2022

adopted a resolution imploring Congress to pass a bill to safeguard banks that work with state-legal marijuana businesses from federal penalties. The latest resolution on banking also expresses support for federal legalization bills, including one that passed the House and another that’s being finalized by Senate leadership.

Banking 52

Banking Safety Business Legalization 52

PrestoDoctor

AUGUST 1, 2022

Marijuana banking options are limited for many entrepreneurs despite the fact that several thirty-six states legalize medical marijuana use. Thanks to a recent cannabis banking bill that has passed in Pennsylvania, cannabis-related businesses now have the right to use financial institutions and insurance for their businesses.

Banking 52

Banking Law Marijuana Compliance 52

Cannabis Law Report

FEBRUARY 5, 2020

The “Roadmap to Cannabis Banking & Financial Services”, aims to increase the number of financial service providers in Colorado who serve the state’s legal marijuana and industrial hemp industries. Unbanked cannabis businesses often operate solely in cash, creating a significant risk to public safety,” said Treasurer Dave Young. ”By

Banking 69

Banking Safety Business Cannabis 69

Cannabis Law Report

MAY 19, 2022

Impacts include risks to public safety and security, impacts on governmental regulatory agency access to banking and depository services, and impacts on small and minority cannabis businesses. CANNRA+Banking+Letter_FINAL.

Banking 52

Banking Policy Safety Access 52

Cannabis Law Report

MARCH 8, 2022

consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. 68% support Congress passing legislation that allows cannabis businesses to access banking services and products in states where cannabis is legal.

Banking 52

Banking Hemp Business Access 52

Cannabis Law Report

APRIL 28, 2022

Banking associations representing all 50 states and one U.S. territory sent a letter to Senate leaders on Thursday, imploring them to include marijuana banking reform in a large-scale manufacturing bill that’s heading to bicameral conference. ABA and SBA Letter to the Senate Support SAFE Banking in America COMPETES Act 04282022.

Banking 59

Banking Access Legislation Packaging 59

Canna Law Blog

MARCH 17, 2019

Great news: on March 7, 2019, the “ Secure and Fair Enforcement Banking Act of 2019 ” (or, the “SAFE Banking Act”) was officially introduced in the House of Representatives. If Congress fails to act, we are discouraging responsible, regulated markets and allowing a serious public safety threat to go unaddressed.”. Stay tuned.

Banking 76

Banking Marijuana Safety Business 76

Cannabis Law Report

OCTOBER 21, 2021

Seattle-based cannabis banking startup Shield Compliance is beefing up its staff. Before her role at Shield, Cantrell spent more than 12 years at the Republic Bank of Chicago. She has 20 years of banking experience, the company said. Cantrell is the new executive vice president of payments and strategic alliances.

Banking 52

Banking Compliance Compliance Business 52

MassRoots

AUGUST 4, 2020

The California Cannabis Industry Association (CCIA) is calling for cannabis businesses to join them in imploring Speaker Pelosi to prioritize the Secure and Fair Enforcement Banking Act (SAFE Banking Act). What is the SAFE Banking Act? CCIA and The Liaison Group have been working tirelessly behind the scenes on SAFE Banking.

Banking 52

Banking Access Business Programs 52

Cannabis Law Report

DECEMBER 14, 2021

monetary banking protocols in banking cannabis and hemp operations. This honor is part of a financial services certification program overseen by the Policy Center for Public Health & Safety (PH&S) in collaboration with state attorneys general. ALBUQUERQUE, N.M. , Dec. Department of Treasury and FinCEN.

Banking 52

Banking Hemp Compliance Compliance 52

Greenspoon Marder Cannabis Law Group Blog

JUNE 14, 2019

Although this resolution is limited in scope, pending legislation on the horizon would definitively remedy this issue, specifically the Secure and Fair Enforcement (“SAFE”) Banking Act. As of June 5 th , 2019 the SAFE Banking Act has been placed on the Union Calendar (Calendar No. Victor Fox is not an attorney.

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Banking State Laws Cannabis Business 64

Cannabis Law Report

OCTOBER 5, 2021

The House of Representatives has approved cannabis banking legislation for the fifth time. The Secure and Fair Enforcement (SAFE) Banking Act is legislation that “would allow marijuana-related businesses in states with some form of legalized marijuana and strict regulatory structures to access the banking system.” [1]

Banking 52

Banking Legislation Environment Access 52

Cannabis Law Report

JUNE 30, 2022

And the full Senate separately passed a measure that to provide state-level protections for banks that work with cannabis businesses. My bill will protect this community without sacrificing the safety of our roads.”. Pennsylvania Lawmakers Advance Medical Marijuana DUI Protections And Cannabis Banking Reform Bills.

Banking 52

Banking Marijuana Patients Safety 52

NORML

DECEMBER 23, 2019

Last Wednesday, he essentially demanded that in exchange for allowing the cannabis industry to access to basic banking services, that the federal government should impose a 2% THC cap on marijuana products and prohibit the retail sale of marijuana-infused edibles or e-liquid vapor extracts. Despite this reality, the Senate refuses to act.

Banking 227

Banking Marijuana Retail Safety 227

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. The OLCC Press Release. Workers have been threatened at gunpoint, assaulted and tragically even killed.

Banking 52

Banking Business Access Safety 52

Cannabis Law Report

JUNE 11, 2022

Daines’ Safe Banking Act which would which would help improve public safety. Daines’ bill is not about the legalization of marijuana, it’s about public safety. A fifth-generation Montanan, Steve Daines brings 28 years of private-sector business experience to Washington, D.C. as he serves the people of Montana in the U.S.

Banking 52

Banking Safety Access Business 52

Cannabis Law Report

JUNE 21, 2021

Here’s their letter to the Chair and Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee. The inability of these state-legal entities to bank their significant cash reserves is an issue of public safety. Thursday, June 17, 2021. Washington, D.C. Oregon’s U.S. Senator Jeff Merkley and U.S.

Banking 66

Banking Legislation Safety Dispensary 66

Cannabis Law Report

SEPTEMBER 25, 2019

House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act 321-103. Neal Levine of the Cannabis Trade Federation states … The bipartisan SAFE Banking Act ( H.R.1595 It aims to address the state-legal cannabis industry’s lack of access to banking and other financial services.

Banking 55

Banking Safety Compliance Compliance 55

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

SpeedWeed

FEBRUARY 15, 2019

Six years after introducing the Secure and Fair Enforcement (SAFE) Banking Act, a cannabis banking reform measure, co-author Denny Heck finally saw it enjoy its first committee hearing in Congress on Wednesday. Here’s How Cannabis Companies Are Banking Legally on the Down Low. “We are all late,” Rep. .

Banking 53

Banking Dispensary Safety Seed-To-Sale 53

The Blunt Truth

SEPTEMBER 22, 2023

We have some information on the SAFER Banking Act – will the “R” make all the difference? SAFER BANKING ACT “A rose, by any other name, would smell as sweet,” says Shakespeare. SAFER BANKING ACT “A rose, by any other name, would smell as sweet,” says Shakespeare. Does the same hold true for cannabis banking legislation?

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Banking Legislation Safety Marijuana 98

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.

Banking 40

Banking Safety Business Cannabis 40

Cannabis Law Report

MAY 15, 2019

LOS ANGELES — The fate of a bill that would allow state-chartered banks and credit unions to provide services to California’s marijuana businesses could be determined Thursday when a key hearing is held on the legislation. Tracking: [link]. Read current version here. 20190SB51_97.

Banking 45

Banking Legislation Safety Business 45

Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

The guidance offers reassurance to credit unions following the 2018 Farm Bill, which federally legalized hemp, but failed to address banking in the hemp industry, leaving the banking industry uncertain as to their capacity to legally serve the industry. I’ve seen dispensary employees have their bank accounts shut down.

Banking 40

Banking Hemp Marijuana Events 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

MAY 21, 2019

The measure, which makes clear that the group “takes no position as to whether cannabis should be legalized under the laws of the United States or of any state,” highlights the public safety issues caused by current federal policy, which makes many financial services providers reluctant to work with the marijuana industry.

Banking 40

Banking Legislation Safety Collective 40

Cannabis Law Report

FEBRUARY 13, 2019

FIRST CONGRESSIONAL HEARING HELD ON CANNABIS BANKING. Today the House Financial Services’ Subcommittee on Consumer Protection and Financial Institutions held the first-ever congressional hearing on the issue of cannabis banking. . To continue to do nothing to protect public safety would be negligence.”. Feb 13, 2019 .

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Banking Packaging Safety Business 61

Cannabis Law Report

APRIL 5, 2022

This included both the Porsche and Lamborghini that had to be turned over to David Brockway at 5star Bank by 2pm on February 15th. 5star Bank also issued Folium one of its $2 million PPP loans, which government records show Folium says was used to retain around 200 employees during Covid-19 lockdowns. . Kashif Shan. 5Star Stip.

Banking 52

Banking Extraction Law Safety 52

Cannabis Law Report

JULY 23, 2019

The Washington Times reports………Nevada officials are launching the nation’s first banking system for the booming cannabis industry, whose dispensaries increasingly are targeted for burglaries and robberies for the hundreds of thousands of dollars of cash they keep on hand to pay employees, taxes and rent. Full Article at.

Banking 40

Banking Marijuana Safety Dispensary 40

Cannabis Law Report

MARCH 5, 2022

We must prioritize the safety of the 11,330 workers directly employed by the regulated cannabis industry,” Brooke Davies of the Washington CannaBusiness Association said. Davies said without the bank funding, the small businesses often cannot afford additional security for their products or personnel. The session ends on March 10.

Legislation 98

Legislation Business Banking Dispensary 98

The Blunt Truth

DECEMBER 9, 2021

It looks like marijuana banking will not be part of the NDAA. marijuana banking. Advocates of allowing the banking industry to serve cannabis businesses have seen many opportunities to enact legislation come and go. Lawmakers introduced a bill to require the FDA to regulate CBD. Although many are disappointed, including Rep.

Banking 115

Banking Food CBD Legislation 115

NORML

FEBRUARY 27, 2019

Currently, almost none of the businesses operating in the cannabis space can legally obtain a bank account, process a credit card, or take a standard business deduction on their federal taxes. “And when these businesses are forced to operate exclusively in cash, they create serious public safety concerns.”

Banking 152

Banking Policy Business Safety 152

The Blunt Truth

MAY 21, 2020

Senator Mitch McConnell (R-KY) criticized the cannabis banking provisions in the latest stimulus bill, while state Attorneys General wrote a letter supporting them. cannabis banking. The marijuana industry was optimistic about the inclusion of the SAFE Banking Act in the HEROES bill last week. massachusetts. and finally.

Banking 115

Banking Collective Recreational Hemp 115

Cannabis Law Report

APRIL 25, 2022

” The Public Health & Safety Cannabis Financial Service Certification helps law enforcement and state regulators distinguish legal cannabis operators from illicit. monetary banking protocols among cannabis and hemp operators as well as those who are meeting good manufacturing practices. Department of Treasury and FinCEN.

Hemp 52

Hemp Banking Safety Compliance 52