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Dispensaries Banking Sector

Burns & Levinson LLP

Spotlight Series: Jenna Meyer of Shield Compliance

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The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market....more

Wilson Sonsini Goodrich & Rosati

Navigating the Current State of Financial Services for Marijuana Businesses and Preparing for Future Changes in Cannabis Banking

The legal landscape for marijuana-related businesses (MRBs) has seen significant change and challenges in recent years. Despite the legalization of marijuana for medical or recreational use in various states, it remains a...more

Bradley Arant Boult Cummings LLP

To Reschedule or To Deschedule: That Is the (Marijuana) Question

Now that the dust is starting to settle on the recent news that the U.S. Department of Health and Human Services (HHS) has recommended to the U.S. Drug Enforcement Agency (DEA) that marijuana be moved from Schedule I to...more

Burns & Levinson LLP

Spotlight Series: Joe Campanelli, President and CEO of Needham Bank

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The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market....more

Seyfarth Shaw LLP

The Week in Weed: December 2022 #3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

Burns & Levinson LLP

Spotlight Series: Tony Repanich, President and CEO of Shield Compliance

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The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market....more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 11 2022

Schumer: Senate ‘Very Close’ To Passing SAFE Banking Act - “The House of Representatives passed the bill for the sixth time earlier this year.” Why this is important: The passage of the Secure And Fair Enforcement...more

McGuireWoods LLP

In the Weeds: The 4/20 Edition — Va. Medical Use, Two Delta-8 Bans, NY Cannabis Banking and Tax Deductions

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Newsworthy Highlights - Virginia Access to Medical Cannabis and Delta-8 Ban Moving Forward. Virginia Gov. Glenn Youngkin approved Senate Bill 591, which eliminates existing requirements for medical cannabis patients to...more

Seyfarth Shaw LLP

The Week in Weed: November 2021 # 3

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Welcome back to the Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

Clark Hill PLC

Credit Eco to Go Podcast: Cannabis Banking… From the Inside

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Michael O’Neill, VP and Bank Secrecy Act Officer at Safe Harbor Private Banking stops by #CreditEcoToGo with Joann Needleman to talk about his experience building the right compliance program to bank the cannabis industry....more

Seyfarth Shaw LLP

The Week in Weed: March 2021 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. ...more

Burns & Levinson LLP

Eaze Case Puts Financial Institutions on Notice

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On March 24, 2021, Defendants Hamid (Ray) Akhavan and Ruben Weigand were found guilty of defrauding banks as part of a scheme they had set up to help cannabis company Eaze accept credit card payments for marijuana purchases....more

Clark Hill PLC

Will Cannabis Legalization Provide Safety for Financial Institutions?

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On this episode of the Credit Eco to Go podcast with Joann Needleman, there is much speculation that 2021 could be the year that Congress enacts meaningful legislation to allow marijuana related businesses (MRBs) to access...more

Spilman Thomas & Battle, PLLC

The Dome Report - 2020 West Virginia Legislature Updates, Issue 4

The 2020 Regular Session of the West Virginia Legislature just reached the 30th day, or its half way point. As of today, the House has introduced 1289 bills, while the Senate introduced 725. We will continue reporting on...more

McDermott Will & Emery

House Judiciary Committee to Consider De-Scheduling Bill

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This Wednesday, November 20, the House Judiciary Committee will hold a markup of H.R. 3884, the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act). The bill’s sponsors and advocates for cannabis normalization...more

King & Spalding

Cannabis Banking Bill Clears U.S. House of Representatives

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On September 25, 2019, the U.S. House of Representatives approved historic legislation to provide legalized marijuana businesses access to banking services. H.R. 1595, the Secure and Fair Enforcement Banking Act of 2019 or...more

McDermott Will & Emery

SAFE Banking Act Passes House, Extends Cannabis Safe Harbor Protections

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First introduced in 2013, the SAFE Banking Act passed the House 321-103 Wednesday, September 25th, 2019. This bill provides safe harbor to banks and financial institutions doing business with state-legal cannabis businesses,...more

K&L Gates LLP

In the Weeds: House Moves Toward Opening Banks to Cannabis-Related Legitimate Businesses

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On Wednesday, September 25th, the House of Representatives approved the “Secure and Fair Enforcement (SAFE) Banking Act of 2019” (H.R. 1595) by a vote of 321 to 103. The bipartisan bill is the first stand-alone cannabis...more

Brooks Pierce

What is Hemp? Is It Even Legal?

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Hemp and cannabidiol (CBD) products are dominating the airwaves and the marketplace, and North Carolina has been at the forefront, ranking sixth in the nation in acres of hemp produced in 2018. Many predict that the market...more

Steptoe & Johnson PLLC

West Virginia Treasurer’s Office Tentatively Awards Medical Cannabis Banking Contract

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On August 26, 2019, the West Virginia State Treasurer’s Office (the “Office”) tentatively awarded the state’s medical cannabis banking and fee-processing services to Element Federal Credit Union (“Element”). Element was one...more

Steptoe & Johnson PLLC

Senate Holds Public Hearing on Banking Access for the Cannabis Industry

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On July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs (the “Committee”) held a public hearing on the cannabis industry and its inability to access the nation’s financial services market....more

Bradley Arant Boult Cummings LLP

Senate to Move Forward with Marijuana-Related Business Banking Bill - Cannabis Industry News Alert

Legislation that would open financial services to marijuana-related businesses operating in states that have legalized marijuana took another small, but important, step Tuesday. The Banking, Housing, and Urban Affairs Senate...more

Seyfarth Shaw LLP

Will Banks be Able to Play it SAFE with Marijuana Related Businesses?

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Marijuana is estimated to be a $10 billion industry and rapidly growing. Almost all of it is conducted in cash. Although legal in thirty three states plus Washington, D.C., Puerto Rico and Guam, marijuana remains illegal at...more

Burns & Levinson LLP

SAFE Banking Act of 2019

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One of the biggest challenges facing the legal cannabis industry today (as we’ve covered extensively on this blog) is access to, or better yet lack of access to, banking services. Because the use and sale of marijuana remains...more

Burns & Levinson LLP

Security Standards for Medicinal Cannabis Businesses

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Last week the firm moderated a discussion of banking and lending in the cannabis industry. The event was well attended and most importantly provided practical insights concerning the financing of cannabis businesses...more

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