News & Analysis as of

Medical Marijuana › Marijuana › Banks

Medical Marijuana refers to the use of marijuana to treat or alleviate symptoms of certain illnesses. A growing number of states permit individuals to use marijuana on the recommendation of a physician. Despite... more +
Medical Marijuana refers to the use of marijuana to treat or alleviate symptoms of certain illnesses. A growing number of states permit individuals to use marijuana on the recommendation of a physician. Despite state laws to the contrary, Federal law still prohibits the use or possession of marijuana. The conflict between state and federal law on this issue has created interesting enforcement issues and significant legal hurdles for medical marijuana providers.  less -
McCarter & English, LLP

DEA’s Plan to Reschedule Cannabis: Implications and Insights

McCarter & English, LLP on

Earlier this week, the Department of Justice proposed reclassifying cannabis from Schedule I to Schedule III under the Controlled Substances Act. The move follows an August 2023 recommendation from the Department of Health...more

Benesch

Cannabis Industry Quarterly Update: Q2 2023

Benesch on

There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

McGlinchey Stafford

Marijuana & Banking: What’s the Hold Up? Pt. 1 – Conflicting Legal Landscapes

McGlinchey Stafford on

Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize...more

Seyfarth Shaw LLP

The Week in Weed: February 2023 # 3

Seyfarth Shaw LLP on

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we saw some federal activity on medical marijuana for veterans. We have an update on those SAFE...more

Bradley Arant Boult Cummings LLP

Preparing a Cannabis Application: Five Things I Learned

Bradley Arant Boult Cummings LLP on

Bob Seger’s “Against the Wind” is an anthem to love and growing old. Among its many great lines is “wish I didn’t know now what I didn’t know then.” Can you tell I recently turned 40? But I write today not about what I...more

Goodwin

Mississippi Becomes 37th State to Legalize Medical Cannabis

Goodwin on

On February 2, 2022, Mississippi Governor Tate Reeves signed legislation authorizing cannabis for medical use. Mississippi is now the 37th state to legalize medical cannabis. The passage of SB 2095 (the "Act") comes more than...more

Burns & Levinson LLP

Eaze Case Puts Financial Institutions on Notice

Burns & Levinson LLP on

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

Seyfarth Shaw LLP

The Week in Weed: March 2020 #2

Seyfarth Shaw LLP on

FEDERAL NEWS - The big news this week was the FDA’s report to Congress on CBD.  The report did not set out a timeline for usage guidelines, citing the need for more data.  Commissioner Stephen Hahn did indicate he thought...more

Steptoe & Johnson PLLC

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

Steptoe & Johnson PLLC on

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

Stinson LLP

Emerging Trends Newsletter - Q4

Stinson LLP on

The Volcker Rule Under the Trump Administration - The so-called Volcker Rule—named after Paul Volcker, a former chairman of the Federal Reserve Board—was part of the Dodd-Frank Wall Street Reform and Consumer Protection...more

K2 Integrity

State Ballot Wins Only Amplify Questions About Pot Banking

K2 Integrity on

The 2016 election will be remembered not only for the memorable presidential race but also for what was effectively a national referendum on cannabis. Eight states passed laws allowing its use. Medical marijuana is now...more

Pillsbury Winthrop Shaw Pittman LLP

The Challenges of the Evolving Marijuana Industry: Reconciling State Legislation with Federal Prohibition

Pillsbury Winthrop Shaw Pittman LLP on

Cultivation, production, distribution, or possession of marijuana is a federal criminal offense under the Controlled Substances Act (the CSA). Yet, despite federal prohibition, state-sanctioned marijuana industries have...more

Stinson LLP

BankinBits First Quarter Recap

Stinson LLP on

The BankinBits blog, which discusses recent developments in the banking industry, has within the first quarter of 2014 addressed a diverse range of topics including banking services for the marijuana industry, the shuttering...more

Sherman & Howard L.L.C.

An Identifiable Risk to Collateral Property That Is Used In The Marijuana Business

Sherman & Howard L.L.C. on

The legalization under state law of the marijuana business in Colorado through Amendment 20 (medical marijuana) and Amendment 64 (recreational marijuana) (Amendment 20 and Amendment 64 shall be referred to collectively as the...more

14 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide