Washington State officials stressed the urgent need for federal marijuana banking reform following a series of dispensary robberies that have left three people dead. The killings occurred across four days at three separate cannabis retailers in the state, and has led advocates and lawmakers to demand the Senate act on a bill – the Secure
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
Just when it seemed like the cannabis industry would have access to banking through the Secure and Fair Enforcement (SAFE) Act, which was included in the May 12 COVID relief bill that was approved by the House on May 12, things quickly changed. The provision was excluded in the most recent version, approved by Senate
Long-awaited banking regulations for cannabis looked unlikely to pass, but the newest coronavirus relief bill may be able to bring it across the finish line. The Secure and Fair Enforcement (SAFE) Banking Act has been in the works since last year and actually made historic progress by passing the House of Representatives but seemed to
Financial institutions have been cleared to work with hemp businesses, and the Federal Reserve Bank set out recently to remind the banking industry of this. Though banks had been given the green light to work with hemp-related businesses in late 2019, they haven’t been flocking to support this industry yet. Hemp businesses were treated exactly
West Virginia took a major step in the fight for banking services for cannabis when the state House of Delegates passed a bill that, if adopted, would provide state protections for banks that take on cannabis-related businesses as customers. What does the bill do? The state would not be able to prohibit or penalize (or
