News & Analysis as of

Marijuana Related Businesses Proposed Legislation Suspicious Activity Reports (SARs)

Ballard Spahr LLP

32 Attorneys General call for enactment of marijuana banking legislation

Ballard Spahr LLP on

Thirty-two attorneys general representing states, territories and Washington, D.C. are asking Congress to pass legislation to provide financial institutions a safe harbor if they provide services to marijuana-related...more

Rumberger | Kirk

House Passes Bill To Protect Banks, Credit Unions And Insurance Companies Providing Services To Legal Cannabis Businesses

Rumberger | Kirk on

Banks, credit unions and insurance companies would be protected in doing business with a wide variety of businesses including marijuana sellers if the “SAFE Act,” passed by the U.S. House of Representatives on September 26,...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

Ballard Spahr LLP

Update: Recent Momentum in Efforts to Provide Cannabis Businesses Access to Financial Services

Ballard Spahr LLP on

We regularly blog about the conflict between state and federal law related to cannabis and the uncertainty regarding how federal criminal and Bank Secrecy Act (“BSA”) law will, or will not, be enforced against financial...more

Tucker Arensberg, P.C.

FinCEN issues Marijuana Banking Update Report

Tucker Arensberg, P.C. on

The Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN), issued a Marijuana Banking Update Report for the period ending March 31, 2017. Back in January, I wrote about a bi-partisan group of...more

Tucker Arensberg, P.C.

Additional Banking Legislation is Introduced in U.S. Congress to Assist Marijuana Businesses

HR 2215, called “The Secure and Fair Enforcement Banking Act (SAFE Banking Act),” was introduced on Thursday, April 27 by Representative Ed Perlmutter (D-CO) and was co-sponsored by 28 bipartisan Congressmen “to create...more

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