News & Analysis as of

Banking Sector Cannabis-Related Businesses (CRBs) Proposed Legislation

Fox Rothschild LLP

Thirty-two Attorneys General Press Congress to Finally Pass the SAFER Banking Act to Protect Cannabis Businesses and Communities

Fox Rothschild LLP on

The cannabis industry continues to face a fundamental challenge: access to the regulated banking system. Despite legalization (adult use and/or medical) in dozens of states, cannabis remains federally illegal, leaving...more

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

Benesch

Cannabis Industry Quarterly Update: Q2 2023

Benesch on

There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

Husch Blackwell LLP

Legislators Make Another Run at Cannabis Banking Law

Husch Blackwell LLP on

Earlier this week, members of the U.S. House of Representatives and U.S. Senate reintroduced legislation that would allow regulated financial institutions to work with state-licensed cannabis companies. The Secure and Fair...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

The (Death of The) Secure and Fair Enforcing (Safe) Banking Act of 2021

ArentFox Schiff on

Though the House of Representatives passed the Secure and Fair Enforcing Banking Act (“SAFE Banking Act” or “the Act”) on April 19, 2021, the bill was dropped from the final version of the larger China COMPETES ACT last week...more

Partridge Snow & Hahn LLP

Congress Keeps Taking Baby Steps on Marijuana Reform

This month, two congressional Republican lawmakers introduced a bill to legalize marijuana at the federal level, as well as to protect banks that service state-legal cannabis businesses and to ensure that military veterans...more

Partridge Snow & Hahn LLP

Congress May Be Ready to Address Cannabis Banking Concerns

A renewed effort to give the cannabis industry safe access to financial institutions and services returned to Washington last week, as the Secure and Fair Enforcement (SAFE) Banking Act was reintroduced in the U.S. House of...more

White & Case LLP

The House Passes Cannabis Banking Legislation: Implications for the Financial Services Industry

White & Case LLP on

On September 25, 2019, the US House of Representatives ("House") passed, by a vote of 321 to 103, the Secure and Fair Enforcement Banking Act ("SAFE Banking Act"), bipartisan legislation designed to secure and regulate...more

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