In the U.S., banks and credit unions are reluctant to work with cannabis businesses because of the federal illegality of cannabis.
If you have ever frequented a marijuana dispensary, chances are you have both arrived and left with plenty of green. That’s because many shops require cash to complete a transaction, a byproduct of pot’s illegal status on the federal level. But one cannabis company is aiming to change that. CBS News reported last week on […]
DENVER (AP) — 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. As many […]
Is this the writing on the wall? In what looks to be the biggest step forward toward the ultimate legalization of marijuana on the federal level, the U.S. House of Representatives just passed the Secure and Fair Enforcement Act, or SAFE Banking Act, a critical step toward clearing the way for cannabis-related businesses to operate […]
The U.S. House of Representatives voted on Wednesday to approve a bill that would allow legal cannabis businesses access to the nation’s banking system. The measure, the Secure and Fair Enforcement (SAFE) Banking Act, was passed with a House floor vote by a margin of 321 to 103. If passed by the Senate and signed […]
We’re hovering on the brink of the first pro-marijuana federal legislation in an age. On Friday morning, the House confirmed that the Secure and Fair Enforcement (SAFE) Banking Act will be put to a vote next week. The proposed legislation is only the third piece of potential cannabis law to make it out of committee, […]
A Senate committee held a hearing on Tuesday to discuss ways for cannabis businesses operating legally under state law to obtain access to banking and financial services. At the hearing, Senators and witnesses including members of the cannabis industry focused on the Secure and Fair Enforcement (SAFE) Banking Act of 2019. Under the measure, federal […]
A Senate legislative committee has scheduled a hearing on a bill that would give cannabis businesses operating legally under state law access to the U.S. banking industry. The hearing before the Senate Committee on Banking, Housing, and Urban Affairs on “Challenges for Cannabis and Banking: Outside Perspectives” will be held on Tuesday, July 23 and […]