State AG Pulse | Is SAFER Banking Finally Coming To The Cannabis Industry?
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
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
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
This is the first in what we hope will be a regular feature where our editors – Whitt Steineker, Jay Wright, Hunter Robinson, and Slates Veazey – discuss cannabis issues in the news and take a stab at where the cannabis...more
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
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
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
The legal cannabis industry has been developing for years, but it is still difficult even for sophisticated investors to know where to start when thinking about investing in the cannabis industry. Stocks of publicly traded...more
Medical cannabis is on the way in Alabama. What does that mean for Alabama banks? The implications of this development are enormous for the financial services industry in Alabama, as each institution will soon have to...more
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
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
There has been a significant amount of political punditry over the last several months about an electoral “Blue Wave” coming this November. President Trump is at historical lows of job approval and favorability and much of...more
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
The new bill, which follows April 23, 2020 legislation aimed at opening COVID-19 emergency response funding to cannabis businesses, offers a previously unclear path forward for financial services to the cannabis industry by...more
Michigan has joined a number of states that have amended its statutes to grant certain individuals temporary authority to act as a mortgage loan originator while a license application is pending, in conformity with the...more
Wisconsin is the latest state to pass legislation amending its statutes to add provisions addressing temporary authority to operate as a mortgage loan originator while a license application is pending pursuant to the federal...more
Washington State has enacted legislation amending its regulations to permit temporary authority to operate as a mortgage loan originator...more
Dear Littler: I am a manager at a mid-size company in Florida. An employee just asked for time off so that she can help her sister, who lives with her, deal with issues related to abusive behavior by the sister’s boyfriend....more
Minnesota has revised its Residential Mortgage Originator and Servicer Licensing Act to provide an exemption from residential mortgage originator licensure requirements for a "manufactured home dealer" and "manufactured home...more
Both Virginia and Utah have enacted legislation to permit temporary authority to operate as a mortgage loan originator in their respective states pursuant to the SAFE Act....more
Declaring it the “most expansive paid family leave time and benefits in the nation,” New Jersey Governor Phil Murphy signed Assembly Bill (AB) 3975 into law on February 19, 2019....more