• rise in cannabis dispensary crime

The Lack of Cannabis Banking Is Causing an Increase in Dispensary Crime

More states legalize cannabis every year, yet banks and other financial institutions are hesitant to get involved in the billion-dollar industry for fear of federal retaliation under prohibition. There has been movement at a congressional level to resolve this problem and clear up the rules for financial institutions, but not enough movement yet to pass

By |July 8th, 2021|
  • federal cannabis legalization must come before banking reform

Schumer: Marijuana Legalization Must Pass Before Cannabis Banking Reform

It’s a matter of strategy but will it be the right strategy? Senate Majority Leader Chuck Schumer (D-NY) has indicated that he has his sights on ending cannabis prohibition rather than taking on smaller scale bills first. That is mixed news for financial institutions and cannabis advocates who have been pressing for the passage of

By |June 22nd, 2021|
  • how safe banking act will change cannabis banking

6 Ways the SAFE Banking Act Will Actually Change Cannabis Banking

Lack of banking access has been a stumbling block for the billion dollar U.S. cannabis industry, and a federal bill aiming to change that may finally get enough traction this year for a vote. The Secure and Fair Enforcement (SAFE) Banking Act would change the regulatory landscape for financial institutions that provide services for cannabis-licensed

By |June 8th, 2021|
  • deceive banks into providing cannabis business banking

Lawyers Warn Cannabis Companies Against Deceiving Banks into Providing Services

State-legal marijuana companies locked out of using financial services due to the federal prohibition of cannabis have been warned not to deceive banks about the nature of their business. Benjamin William Perry and Alex McFall of Bradley Arant Boult Cummings LLP law firm, writing for Lexology, said there’s a strong incentive for cannabis businesses to

By |May 24th, 2021|
  • U.S. House of Representatives Approves Cannabis Banking Bill for Fourth Time

U.S. House of Representatives Approves Cannabis Banking Bill for Fourth Time

The US House of Representatives passed a bill that would ensure banks could provide financial services to state-legal cannabis businesses without fear of federal reprisal. Following an earlier voice vote, the legislation – the Secure and Fair Enforcement (SAFE) Banking Act – received 321 votes in favor and 101 votes against. This marks the fourth

By |April 26th, 2021|
  • marijuana banking reform legislation roundup

Cannabis Banking in 2021: A Roundup of Reform Legislation

It's been a tumultuous few years as the cannabis industry struggles to overcome long-standing stigmas and have access to essential business services that most take for granted. I'm talking about banking. Yes, the 'B' word has been a popular one as states continue to legalize cannabis for either medical or recreational use. When the IRS

By |March 22nd, 2021|
  • 2021 Cannabis Reform

Will 2021 Be The Tipping Point for Marijuana Reform?

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

By |February 8th, 2021|