News & Analysis as of

Decriminalization of Marijuana Marijuana State Administration of Foreign Exchange

Hinshaw & Culbertson LLP

The SAFE Banking Act: Financial Services for Marijuana and Hemp Businesses

I. Marijuana - Currently, 31 states plus the District of Columbia allow the recreational use of marijuana. In addition, 37 states and the District of Columbia currently allow marijuana to be used for medical purposes....more

Akin Gump Strauss Hauer & Feld LLP

Former Top Schumer Staffer Highlights Reasons To Be Optimistic About Marijuana Banking Passing This Session (Op-Ed)

With the recent reintroduction of the Secure and Fair Enforcement (SAFE) Banking Act, Congress is once again engaged in an effort to achieve a meaningful breakthrough on federal cannabis reform. Understandably, many have...more

McGlinchey Stafford

Cannabis and Social Justice Reform: Are We Doing Enough?

McGlinchey Stafford on

With the anticipation of federal marijuana legalization, the cannabis industry rang in 2021 with sky-high equity values and anticipated social justice reforms seemingly imminent. However, differing ideas regarding how to...more

Sheppard Mullin Richter & Hampton LLP

SAFE Banking Act of 2021: Where Are We on Cannabis Banking Change?

It is undeniable that, not only is the cannabis industry here to stay, but it is growing exponentially. To date, 47 states, 4 U.S. territories, and the District of Columbia have legalized cannabis in some form – whether they...more

Burns & Levinson LLP

2020: New Year, New Opportunities

Burns & Levinson LLP on

Now that the New Year is here and in full swing, B&L’s Cannabusiness advisory practice is taking some time to reflect on successes and shortfalls in the cannabis industry’s over the past 12 months. Following a momentous 2018...more

Cozen O'Connor

Landmark Cannabis Legislation Approved by Judiciary Committee

Cozen O'Connor on

On Wednesday, November 20, 2019, the House Judiciary Committee approved, by a vote of 24 to 10, a bill that is being referred to by many advocates as a landmark bill for the cannabis community. This bill, titled the Marijuana...more

Burns & Levinson LLP

SAFE Banking Act Passes House, Moves to Senate

Burns & Levinson LLP on

Since the Secure and Fair Enforcement (SAFE) Banking Act (the “Act”) found bipartisan support in the House Financial Services Committee back in March, the industry has been waiting for even the slightest sign of its...more

Perkins Coie

Industry Insights: SAFE Banking Act Passes House, Aims to Increase Access of Cannabis-Related Businesses to Banking Services

Perkins Coie on

Late last month, the U.S. House of Representatives passed H.R. 595, the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”). The stated purpose of the SAFE Banking Act is to “increase public safety by...more

Eversheds Sutherland (US) LLP

House passes the SAFE Banking Act, but it’s not safe yet – its fate is in the hands of the Senate

On September 25, 2019, the House of Representatives overwhelmingly passed the bipartisan Secure and Fair Enforcement (SAFE) Banking Act with a vote of 321 in favor and 103 against. Notwithstanding widespread public support,...more

Bradley Arant Boult Cummings LLP

Senate Committee to Consider Banking Marijuana - Related Businesses - Cannabis Industry News Alert

In a surprise to some, a Republican-controlled Senate Committee has scheduled a hearing to consider the current challenges to providing financial services to cannabis-related businesses operating in states that have legalized...more

Burns & Levinson LLP

Update: SAFE Banking Act of 2019

Burns & Levinson LLP on

As we discussed in a post back in February, one of the biggest hurdles facing the legal cannabis industry today remains the lack of access to banking services. Despite the legalization of cannabis on the state level, banks...more

McDermott Will & Emery

House Financial Services Committee to Consider Cannabis Banking Issues

116th Congress’ first cannabis-related hearing - Next week, Congress will hold a long-awaited hearing on the future of banking in the cannabis industry. On Wednesday the 13th, the House Financial Services Committee...more

Cozen O'Connor

Sessions Targets Pot, But Six Bills Could Keep the Industry Rolling

Cozen O'Connor on

In May, Attorney General (AG) Jeff Sessions sent a letter to Congress that zeroed in on the Rohrabacher-Blumenauer Amendment, a cornerstone of federal cannabis legislation that has handcuffed the Department of Justice from...more

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