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Proposed Legislation Marijuana Financial Services Industry

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

Seyfarth Shaw LLP

The Week in Weed: June 2025 #3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, hemp is on the agenda, both in Texas and in Congress. SAFER Banking, less so. And finally, it was so hot...more

Seyfarth Shaw LLP

The Week in Weed: September 2023 # 5

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. The big news this week is that, for the first time ever, a cannabis bill, the SAFER Banking Act, got a markup in the...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

Seyfarth Shaw LLP

The Week in Weed: July 2023 # 2

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we check in on Pennsylvania, Ohio and Virginia – each state is in a different place and heading in a...more

Akerman LLP

“CAOA” - A Federal Decriminalization of Cannabis Bill Addressing Banking, Taxes, Criminal Law, and More - Introduced in U.S....

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A long-awaited bill to federally legalize cannabis was finally introduced last week after a year of negotiation following the release of a draft last year. On Thursday, July 21, 2022, U.S. Senators Cory Booker, Chuck Schumer,...more

Sheppard Mullin Richter & Hampton LLP

SAFE Banking Act of 2021: Where Are We on Cannabis Banking Change?

It is undeniable that, not only is the cannabis industry here to stay, but it is growing exponentially. To date, 47 states, 4 U.S. territories, and the District of Columbia have legalized cannabis in some form – whether they...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

Foley Hoag LLP - Cannabis and the Law

SAFE Has Been Re-introduced with Bipartisan Support

The SAFE Banking Act is back. First introduced in 2019, the Secure and Fair Enforcement Act (“SAFE”) passed in the House but died in the Republican-controlled Senate. Now, the bill has been reintroduced in both the House and...more

Seyfarth Shaw LLP

The Week in Weed: May 2020 #5

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The news is mostly happening in the states this week. Oklahoma is having some medical marijuana issues. Massachusetts recreational shops reopened. Virginia decriminalized marijuana. Ohio may not put cannabis on the ballot...more

Carlton Fields

Credit Unions Ask Senate Banking Committee to Make Cannabis Banking Safe

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In the latest chapter of the ongoing saga of the U.S. Senate’s consideration and hopeful passage of the Secure and Fair Enforcement (SAFE) Banking Act, on February 7, 2020, the Credit Union National Association (CUNA) sent a...more

Carlton Fields

House Members Strongly Urge Senate Banking Committee to Make “Legal” Cannabis SAFE for Banking

Carlton Fields on

On January 21, 2020, the four lead bipartisan sponsors of H.R. 1595, the SAFE Banking Act, U.S. Reps. Ed Perlmutter, D-Colo., Steve Stivers, R-Ohio, Denny Heck, D-Wash., and Warren Davidson, R-Ohio, sent a letter to Senate...more

Seyfarth Shaw LLP

The Week in Weed: January 2020 #4

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. The big news in cannabis this week comes from New Mexico.  Legislation introduced last Thursday would legalize...more

Seyfarth Shaw LLP

The Week in Weed: December 2019 #3

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The big news on Capitol Hill this week was the Senate’s lack of action on the banking bill.  Senator Mike Crapo (R-Idaho), the chairman of the Senate banking committee, opposes legalization and seemed disinclined to move on...more

Seyfarth Shaw LLP

The Week in Weed: December 2019

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. New Jersey is talking about decriminalizing marijuana. Regular readers will doubtless recall that legalization...more

Rumberger | Kirk

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

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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

Seyfarth Shaw LLP

Cosmetics, Hemp, and CBD: Legislative and Regulatory Update

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Seyfarth Synopsis: Through a reintroduced House bill, Congress is taking strides to push for cosmetic regulation reform and, separately, through the SAFE Act, it is seeking to establish a safe harbor for financial...more

The Volkov Law Group

House of Representatives Passes Bill Aimed at Marijuana Industry Financial Reforms

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A new bill that would make it easier for financial institutions to provide services to “marijuana-related businesses” has passed the U.S. House of Representatives 321-103 with strong bipartisan support....more

Shook, Hardy & Bacon L.L.P.

Food & Beverage Litigation Update l October 2019

LEGISLATION, REGULATIONS & STANDARDS - House Passes Cannabis Banking Bill - The U.S. House of Representatives has passed the SAFE Banking Act, which allows financial-service firms to work with “cannabis-related...more

Stinson LLP

U.S. House of Representatives Passes Historic Cannabis Banking Bill

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On September 25, 2019, the U.S. House of Representatives overwhelmingly passed the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The purpose of the SAFE Act is to increase banking access for cannabis businesses by...more

Ballard Spahr LLP

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

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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

Bradley Arant Boult Cummings LLP

Senate to Move Forward with Marijuana-Related Business Banking Bill - Cannabis Industry News Alert

Legislation that would open financial services to marijuana-related businesses operating in states that have legalized marijuana took another small, but important, step Tuesday. The Banking, Housing, and Urban Affairs Senate...more

Ballard Spahr LLP

Proposed Legislation Aims to Address Safe and Equitable Financial Services in the Growing Cannabis Industry

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The state-legal marijuana industry in the United States continues to grow – as does support for it. Ten states and Washington, D.C. have legalized recreational adult use and 23 other states allow some form of medical...more

Cadwalader, Wickersham & Taft LLP

Cannabis Finance - SAFE in the STATES and Maybe Beyond?

Will 2019 be the year that federal lawmakers block U.S. law enforcement and regulatory agencies from enforcing marijuana prohibitions in states where marijuana is legal and finally resolve the divergence between state and...more

Carlton Fields

Is Cannabis Banking "SAFE"? Marijuana and Its Secure and Fair Enforcement

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On March 28, 2019, the House Financial Services Committee voted overwhelmingly (45-15) to advance H.R. 1595, known as the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The bill seeks to protect financial...more

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