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Banking Sector Financial Institutions Cannabis-Related Businesses (CRBs)

Cozen O'Connor

Bipartisan Coalition of AGs Bank on SAFER Cannabis Reform

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A bipartisan coalition of state and territorial AGs sent a letter to Congress urging the passage of the SAFER Banking Act of 2025, which would create federal safe harbor protections for financial institutions that serve...more

Fox Rothschild LLP

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

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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

Harris Beach Murtha PLLC

NY Office of Cannabis Management Launches Banking Directory to Support Cannabis Businesses

The New York State Office of Cannabis Management (“OCM”) recently announced it has created a Cannabis Banking Directory (the “Directory”), which currently lists 10 financial institutions servicing cannabis businesses and open...more

Wilson Sonsini Goodrich & Rosati

Navigating the Current State of Financial Services for Marijuana Businesses and Preparing for Future Changes in Cannabis Banking

The legal landscape for marijuana-related businesses (MRBs) has seen significant change and challenges in recent years. Despite the legalization of marijuana for medical or recreational use in various states, it remains a...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

Perkins Coie

Cannabis Legal Report - May 2023 #2

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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

Bressler, Amery & Ross, P.C.

Cannabis Update: Congress Reintroduces SAFE Banking Act

On April 26, 2023, the Secure and Fair Enforcement Banking Act (“SAFE Banking Act”) was reintroduced in the United States Senate and House of Representatives as a standalone, bipartisan and bicameral bill. The SAFE Banking...more

Akin Gump Strauss Hauer & Feld LLP

Lawmakers Reintroduce Bipartisan Cannabis Banking Legislation

On April 26, 2023, Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT) led a bipartisan group of lawmakers in reintroducing the SAFE Banking Act—legislation that aims to ensure that state legal cannabis businesses have access...more

Husch Blackwell LLP

Legislators Make Another Run at Cannabis Banking Law

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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

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

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 11 2022

Schumer: Senate ‘Very Close’ To Passing SAFE Banking Act - “The House of Representatives passed the bill for the sixth time earlier this year.” Why this is important: The passage of the Secure And Fair Enforcement...more

Clark Hill PLC

Will Cannabis Banking Ever be “Safe”?

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There is cautious optimism that 2022 will be the year that federal legislation will open the door to the banking of cannabis transactions. But is the Safe Banking Act the answer? On the latest episode of #CreditEcotoGo with...more

Bradley Arant Boult Cummings LLP

Finding a Bank and Insurance Company for a Cannabis Business

With apologies to Ben Franklin and others, nothing is more certain if you operate a cannabis company than your need for access to banking services and insurance (FWIW, the death and taxes part is probably also the case). This...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

Sterne, Kessler, Goldstein & Fox P.L.L.C.

MarkIt to Market® - September 2021: Trailblazing Cannabis Legislation Updates

On September 29, 2021, the House Judiciary Committee held a mark-up session of the Marijuana Opportunity Reinvestment and Expungement Act (MORE), which not only would de-classify cannabis as a Schedule I narcotic under the...more

Sterne, Kessler, Goldstein & Fox P.L.L.C.

MarkIt to Market® - September 2021

The September 2021 issue of Sterne Kessler's MarkIt to Market® newsletter discusses a recent non-precedential Trademark Trial and Appeal Board decision regarding intent-to-use applications covering CBD products currently...more

Greenberg Glusker LLP

Cannabis and Banking

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For cannabis companies, banking is anything but business as usual. In this edition of The Grass is Always Greenberg podcast, special guests Stacy Litke and Paul Dunford of Green Check Verified join Greenberg Glusker’s Alexa...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

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 3

House Passes Cannabis Banking Bill - "The House passed the same bill in 2019 by a similar margin, but it stalled in what was then the GOP-controlled Senate." Why this is important: The Safe Banking Act, if passed, will...more

Foley Hoag LLP - Cannabis and the Law

The SAFE Banking Act Passes in the House, but its Fate in the Senate Remains Unclear

On April 19, the U.S. House of Representatives passed the Secure and Fair Enforcement (SAFE) Banking Act in a 321-101 vote. The bill has benefitted from bipartisan support after being co-sponsored by a large group of both...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

Foley & Lardner LLP

Reading the Leaves: What's in Store for Cannabis in 2021

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On the heels of a year beset by turmoil and the myriad challenges caused by the global pandemic, the cannabis industry nevertheless entered 2021 poised for significant growth amid a landscape teeming with opportunity. Public...more

White & Case LLP

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

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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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