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Banks Marijuana Related Businesses Financial Institutions

Troutman Pepper Locke

Bipartisan State AGs Urge Congress to Grant Access to Federally Regulated Banking and Financial Services to State-Regulated...

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In July 2025, a bipartisan coalition of 32 state and territorial attorneys general (AG) sent a letter to Congressional leaders urging the passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Their letter...more

Troutman Pepper Locke

Suit Against Cannabis Giant Trulieve Underscores Cashless ATM Risks and the Need for Banking Reforms

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In a February 19 complaint filed in Arizona state court, Texas-based payment processer Switch Commerce LLC argued that multistate cannabis operator Trulieve Cannabis Corp. and its affiliates should be responsible for a...more

McGlinchey Stafford

What Would Cannabis Rescheduling Mean for Lending and Payments Legality?

McGlinchey Stafford on

The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the...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

Woods Rogers

SAFE Banking Act Removed from Defense Spending Bill

Woods Rogers on

The Secure and Fair Enforcement (SAFE) Banking Act, which would prohibit financial institutions from being penalized for doing business with marijuana companies, was stripped from the National Defense Authorization Act...more

Troutman Pepper Locke

Will the Fifth Time Be the Charm for the Cannabis SAFE Banking Act?

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The House of Representatives has approved cannabis banking legislation for the fifth time. Will this be the year the Senate finally approves this legislation?...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

McDermott Will & Schulte

SAFE Banking Act Passes House, Extends Cannabis Safe Harbor Protections

First introduced in 2013, the SAFE Banking Act passed the House 321-103 Wednesday, September 25th, 2019. This bill provides safe harbor to banks and financial institutions doing business with state-legal cannabis businesses,...more

Troutman Pepper Locke

Massachusetts Banking and Lending Services Beginning to Bloom

Troutman Pepper Locke on

To keep pace with the growing cannabis industry in Massachusetts, certain banks and credit unions in the state are now expanding the services that they offer to cannabis companies. According to The Boston Globe, a small group...more

Steptoe & Johnson PLLC

West Virginia’s Treasurer Acknowledges Banking Fix, Readying for Medical Cannabis

Steptoe & Johnson PLLC on

West Virginia’s fledgling medical cannabis program is one step closer to fruition.  West Virginia’s State Treasurer’s Office has received five bids to provide general banking and financial services on behalf of the State’s...more

Fox Rothschild LLP

Proposed Illinois Bill Would Loosen State Regulations On Banks Providing Services To Cannabis-Related Businesses

Fox Rothschild LLP on

With momentum growing for legal adult-use cannabis in Illinois following the election of J.B. Pritzker to the governorship, the Illinois General Assembly is already proposing legislation that would loosen regulations...more

Moore & Van Allen PLLC

Will Congress Clarify Regulation of Marijuana-Related Business?

Moore & Van Allen PLLC on

President Trump piqued the interest of participants in and observers of the marijuana industry when he stated in early June that he would “probably” support recently proposed bipartisan legislation aimed at removing the...more

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