• November 27, 2020

Tags : Safe Banking Act

Marijuana Banking Access Included In House Leadership’s Coronavirus Relief Bill

House leadership unveiled a coronavirus relief bill on Tuesday that includes provisions to protect banks that service marijuana businesses from being penalized by federal regulators. Advocates, stakeholders and lawmakers have been pushing for some form of cannabis reform to be inserted into COVID-19 legislation. And this round, they were successful, with the language of the Secure and […]Read More

Number Of Banks Reporting Cannabis Business Clients Dips After Hemp Rules Change

The number of accounts that banks and credit unions informed federal regulators they are maintaining for cannabis businesses dipped slightly at the end of the last quarter, according to new data. But that seems to be primarily related to revised reporting requirements for financial institutions servicing hemp-specific businesses following that crop’s federal legalization, rather than […]Read More

Number Of Banks Working With Marijuana Businesses Levels Off, Federal Data Shows

The number of banks and credit unions that service the marijuana industry largely leveled off in the last quarter, according to new federal data released late last week. And that market trend could reflect shifting expectations among financial institutions about the likelihood of Congress approving cannabis banking legislation. While the House did eventually pass the Secure […]Read More

Congress is weighing whether to give marijuana businesses access to banks. In Colorado, that’s already happening.

By Jesse Paul Source: https://coloradosun.com/2019/10/01/marijuana-banking-colorado-safe/ Colorado’s cannabis industry has had a chief request since marijuana was legalized: Give us access to banks.  But it turns out that hundreds of the state’s pot businesses are already working with financial institutions under the close watch of federal regulators, even though marijuana remains illegal at the federal level. […]Read More

House Approves Marijuana Banking Bill In Historic Vote

The House of Representatives passed a standalone marijuana reform bill for the first time in history on Wednesday. The chamber advanced the legislation—which would protect banks that service the cannabis industry from being penalized by federal regulators—in a vote of 321-103. All but one Democrat voted in favor of the marijuana banking bill. Republicans were virtually […]Read More

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