In the latest chapter of the ongoing saga of the U.S. Senate’s consideration and hopeful passage of the Secure and Fair Enforcement (SAFE) Banking Act, on February 7, 2020, the Credit Union National Association (CUNA) sent a...more
2/14/2020
/ Anti-Money Laundering ,
Banking Regulators ,
BSA/AML ,
Cannabis-Related Businesses (CRBs) ,
Credit Unions ,
Decriminalization of Marijuana ,
Depository Institutions ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Legislative Agendas ,
Marijuana ,
Marijuana Related Businesses ,
Money Laundering ,
Proposed Legislation ,
Regulatory Agenda ,
Senate Banking Committee
On January 21, 2020, the four lead bipartisan sponsors of H.R. 1595, the SAFE Banking Act, U.S. Reps. Ed Perlmutter, D-Colo., Steve Stivers, R-Ohio, Denny Heck, D-Wash., and Warren Davidson, R-Ohio, sent a letter to Senate...more
1/28/2020
/ Agribusiness ,
Anti-Money Laundering ,
BSA/AML ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Credit Unions ,
Decriminalization of Marijuana ,
Dispensaries ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Hemp Cultivation ,
Hemp Related Businesses ,
Legislative Agendas ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Money Laundering ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Oversight
Federal bank regulators no longer require banks to submit suspicious activity reports (SARs) for legally authorized hemp business transactions, absent another required circumstance....more
12/13/2019
/ Agribusiness ,
Cannabidiol (CBD) oil ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Decriminalization of Marijuana ,
Deregulation ,
Dispensaries ,
Farm Bill ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Financial Transactions ,
Global Market ,
Hemp ,
Hemp Cultivation ,
Hemp Related Businesses ,
Interstate Commerce ,
Legislative Agendas ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Pending Legislation ,
Regulatory Agenda ,
Regulatory Oversight ,
Suspicious Activity Reports (SARs)
The distribution and sale of cannabis continues its charge from taboo to mainstream. Cannabis-related commerce will reach billions of dollars annually in the next few years. Everything from medicinal and recreational...more
11/5/2019
/ Cannabidiol (CBD) oil ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Consumer Insurance Products ,
Financial Institutions ,
Financial Services Industry ,
Hemp ,
Legislative Agendas ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Pending Legislation ,
Plant Based Products ,
Regulatory Agenda ,
USDA
On March 28, 2019, the House Financial Services Committee voted overwhelmingly (45-15) to advance H.R. 1595, known as the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The bill seeks to protect financial...more