• 2021 Cannabis Reform

Will 2021 Be The Tipping Point for Marijuana Reform?

By |February 8th, 2021|

With the election of President Joe Biden and canna-friendly VP Kamala Harris, marijuana industry advocates brimmed with newfound hope that federal legalization was on the horizon. It's no secret that Democrats are historically accepting of laws relating to cannabis use. Is 2021 going to be the year of green? Some states are throwing out low-level

  • California cannabis business banking

Deal Reached Allowing California Cannabis Firms to Access Banking Services

By |February 1st, 2021|

Cannabis banking is a hot topic for politicians, marijuana industry advocates, and bankers alike. Pause for a moment, and think back to the past, where cannabis was flat-out illegal in all 50 states. Now shift to the present, where cannabis is not only legal in 33 states, but a proven tax revenue powerhouse. And now

  • cannabis banking covid 19 relief bill

Marijuana Banking Provisions Excluded from $900 Billion COVID Relief Package

By |January 11th, 2021|

The year 2020 fell flat for many reasons, and marijuana banking laws did, too. Cannabis banking access was confirmed, ‘Nope!’ in the latest COVID relief package, a $900 billion bill summarized in a tidy 5,593 pages. The omission means that once again, state-legal cannabis businesses will need to practice patience before they have access to

  • House votes decriminalize marijuana

House Votes to Decriminalize Marijuana

By |December 29th, 2020|

Cannabis is becoming more and more accepted across the United States, and the proof was in the proverbial pudding as the House of Representatives voted in favor of taking marijuana off of the federal Controlled Substances Act on December 4.  The House voted on the Marijuana Opportunity Reinvestment and Expungement Act (aka the MORE Act).

  • why fewer banks are working with cannabis businesses

Number of Banks Working with Cannabis Industry Continues to Decline Throughout COVID, Federal Report Shows

By |December 7th, 2020|

While the cannabis industry remains consistently optimistic about banking access, new data from the Financial Crimes Enforcement Network (FinCEN) says banking access has dropped. For three consecutive fiscal quarters, the number of financial institutions that report serving state-legal cannabis businesses has fallen, from 711 banks to 695 to 677 -- all the while, cannabis has

  • Marijuana Advocates Confident on Banking Reform Under Biden Presidency

Marijuana Advocates Confident on Banking Reform Under Biden Presidency

By |November 24th, 2020|

President-elect Joe Biden has a lot on his shoulders, at least from the perspective of marijuana advocates who are confident in banking reform under a Biden presidency. This includes banking access (SAFE Banking Act) and even extends to federal legalization. The prospect of federal legalization isn’t a given, however -- remember, the GOP is in

California Governor Signs Cannabis Banking Bill into Law

By |October 26th, 2020|

For a state that took 22 years to get from medical marijuana legalization to recreational adult-use sales, California is making significant strides with the state's cannabis industry. On Sept. 29, California Governor Gavin Newsom (D) signed several cannabis-related bills into law. This is effectively paving the way for much-anticipated (and sorely needed) banking and financial