News & Analysis as of

Marijuana Related Businesses Security and Financial Empowerment Act

Bradley Arant Boult Cummings LLP

A Watched Pot Never Boils: SAFE Banking on the Backburner Again

Advocates of the SAFE Banking Act – who by now must be feeling a little like Charlie Brown trying to kick the football – were dealt another setback last week. The beleaguered proposal finds itself simmering in committee just...more

Perkins Coie

Cannabis Legal Report - May 2023 #2

Perkins Coie on

SAFE Banking Updates - The latest iteration of the bipartisan Secure and Fair Enforcement (SAFE) Banking Act was reintroduced in Congress on April 26, 2023, and received a hearing before the Senate Banking Committee on May...more

Benesch

2023 Will be a Pivotal Year for Cannabis in Ohio

Benesch on

2023 is just getting started, and already there have been important developments in Ohio involving cannabis with the promise of much more to come. Secretary of State Frank LaRose got things started on January 3 when he...more

Bradley Arant Boult Cummings LLP

Removing the Green Tax: Congress Can Bring Cannabis Tax Policy in Line with Cannabis Enforcement Policy

If you give me an opportunity to quote George Harrison, I’m going to do it. In “Taxman,” he wrote: Should five percent appear too small Be thankful I don’t take it all ‘Cause I’m the taxman - I suspect “The Quiet One”...more

Bradley Arant Boult Cummings LLP

If You Don’t Believe, You Won’t Receive: Predicting Three Cannabis Reforms in the Coming Year

I’m not proud of it, but I’m the resident cynic amongst the editorial staff here at Budding Trends when it comes to federal marijuana reform. And after all, someone has to temper the frivolous whims of others. But we’re...more

ArentFox Schiff

DOJ Weighs in on SAFE Banking Act, Requests “Minor Changes”

ArentFox Schiff on

The Secure and Fair Enforcement (SAFE) Banking Act is still on the table, and US Department of Justice (DOJ) is weighing in. DOJ Comments - Because current federal law allows federal regulators to penalize banks for...more

Butler Snow LLP

Half-Baked: An Overview of Current Cannabinoid Laws & Regulations

Butler Snow LLP on

Over 50 years ago President Nixon declared a “War on Drugs,” leaving housewives over the country proclaiming marijuana to be the devil’s lettuce and urging sweet Billy to steer clear of the gateway drug...more

DarrowEverett LLP

SAFE Banking Tweak Would Be Huge ‘Plus’ for Financial, Cannabis Industries

DarrowEverett LLP on

As the regulated sale of cannabis increasingly becomes sanctioned under state law, federal implications arising from its classification as a controlled substance continue to frustrate those in the banking industry who view...more

Perkins Coie

CLIMB Act Introduced in Congress

Perkins Coie on

Late last week, a bi-partisan pair of federal lawmakers introduced a new bill to expand cannabis companies’ access to financial resources and opportunities. Introduced by Reps. Troy Carter (D-La.) and Guy Reschenthaler...more

Bradley Arant Boult Cummings LLP

Cannabis Banking: Will the SAFE Banking Act Finally Pass?

One of the largest headwinds facing the cannabis industry is the lack of access to banking services. Many financial institutions refuse to serve the multibillion-dollar cannabis industry given the regulatory uncertainty...more

Perkins Coie

Where Is the SAFE Banking Act?

Perkins Coie on

As Congress continues to debate the SAFE Banking Act, cannabis business and financial institutions should pay close attention to the bill’s potential to transform the accessibility of banking and payment processing solutions...more

Bradley Arant Boult Cummings LLP

Congress Should Vote or Get off the Pot

When we last examined marijuana reform at the federal level earlier this year, we warned that perfect can be the enemy of good. Our point was that we should not forego meaningful federal cannabis reform by holding out for...more

Bradley Arant Boult Cummings LLP

Attorney General Garland Reconfirms the DOJ’s Hands-Off Approach Toward Federal Marijuana Prosecution

Attorney General Merrick Garland has reiterated that the Department of Justice will not prioritize prosecuting marijuana use, a position that Garland expressed during his confirmation hearings. In remarks in front of a Senate...more

Foley Hoag LLP - Cannabis and the Law

2021 Year-in-Review

2021 has been a big year for the cannabis industry. We have seen several states pass legislation either permitting adult use, or permitting or expanding a medical marijuana program. Some states have introduced new license...more

Woods Rogers

SAFE Banking Act Removed from Defense Spending Bill

Woods Rogers on

The Secure and Fair Enforcement (SAFE) Banking Act, which would prohibit financial institutions from being penalized for doing business with marijuana companies, was stripped from the National Defense Authorization Act...more

Bradley Arant Boult Cummings LLP

U.S. House Passes the SAFE Banking Act as Part of Defense Bill

The SAFE Banking Act passed in the U.S. House of Representatives for the fifth time on September 23, 2021. This landmark legislation would pave the way for more financial institutions to serve the state-legal cannabis...more

WilmerHale

New York Legalizes Marijuana - Where Is the US Headed?

WilmerHale on

It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more

Fox Rothschild LLP

Cannabis Sector Poised For Increased M&A Activity In 2021

Fox Rothschild LLP on

The legal cannabis market is still in its infancy and there is much more room to grow. At the end of 2020, we saw an uptick in merger and acquisition activity as the industry shook off some pandemic-related instability, and...more

Rivkin Radler LLP

Cannabis Investments and Exit Strategies: A Case Study

Rivkin Radler LLP on

It is relatively easy for investors to make investments in cannabis companies. Given the risks, however, they would be well-advised to have an exit plan in the event their investment does not live up to their expectations....more

Burns & Levinson LLP

Checking in on the SAFE Banking Act

Burns & Levinson LLP on

While the legalization of medical and recreational marijuana continues to build momentum across the U.S., access to banking and other financial services has remained a consistent barrier to the legal marijuana industry. As we...more

WilmerHale

House Passes Historic SAFE Banking Act

WilmerHale on

The US House of Representatives recently passed the Secure and Fair Enforcement (SAFE) Banking Act, H.R. 1595 (the Act), which, if it becomes law, would have far-reaching implications for financial institutions considering...more

King & Spalding

Cannabis Banking Bill Clears U.S. House of Representatives

King & Spalding on

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

Steptoe & Johnson PLLC

Senate Holds Public Hearing on Banking Access for the Cannabis Industry

Steptoe & Johnson PLLC on

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

Seyfarth Shaw LLP

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

Seyfarth Shaw LLP on

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

24 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:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide