Canadian Banks Shut Out U.S. Cannabis Companies Due to Federal Law
At least two Canadian banks are refusing to do business with U.S.-based cannabis companies due to cannabis’ Schedule I status… Read More
Cannabis News & Information
Banking
West Virginia Gov. Signs Banking Bill for Medical Industry
West Virginia Gov. Jim Justice has signed legislation allowing medical cannabis companies to access banking services in the state. According… Read More
SAFE Banking Act Passes Key Congressional Committee
The Secure and Fair Enforcement (SAFE) Banking Act was approved by the House Financial Services Committee in a sweeping 45-15… Read More
House Committee to Vote on Cannabis Banking Bill Next Week
The House Financial Services Committee is set to vote on Tuesday on legislation to protect banks that work with the… Read More
West Virginia Bill Would Give Banking Access to Cannabis Companies
The state Senate of West Virginia has passed a bill that would enable banking services access for medical cannabis companies,… Read More
Federal Banking Bill’s Future Uncertain After First Hearing
After receiving its first hearing before the House Financial Services Committee, the passage of the Secure and Fair Enforcement (SAFE) Banking… Read More
House Committee Holds First Cannabis Banking Hearing
A bipartisan bill to allow cannabis businesses to access banking services in the U.S. got its first-ever committee hearing in… Read More
House Democrats Move Forward With Cannabis Banking Access Hearing
The first cannabis-related congressional hearing of the new session is titled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses,”… Read More
Cannabis Trade Federation Hires Lobbyists to Push Legalization in 2019
The nonprofit Cannabis Trade Federation (CTF) has hired 15 lobbyists in an effort to pass the Strengthening the Tenth Amendment… Read More
House Considering Federal Cannabis Legalization Bill “H.R. 420”
Rep. Earl Blumenauer (D-Oregon) introduced bill H.R. 420 to the House of Representatives on Wednesday, which, if signed into law,… Read More
Morgan Fox: A Federal Cannabis Policy Update
Morgan Fox is the Media Relations Director for the National Cannabis Industry Association (NCIA), the largest cannabis trade organization in the… Read More
Sen. Gardener Aims for Cannabis Banking Reforms This Week
Senator Cory Gardener (R-Colorado) is planning to propose a major overhaul to banking rules for state-legal cannabis companies this week,… Read More
Bipartisan Cannabis Finance Legislation Supported By Banks
New legislation being crafted by Rep. Ed Perlmutter (D-CO), co-sponsored by 82 Democrats and 13 Republicans, is expected to pass… Read More
IRS Struggles With Cannabis Cash Payments, Hires Help
The Internal Revenue Service (IRS) paid a consulting company $1.7 million for help processing the large cash tax payments coming… Read More
Pete Sessions’ Replacement Won’t Block Cannabis Reform
Next year’s House Rules Committee Chairman Jim McGovern, the replacement for cannabis opponent Pete Sessions, has promised to allow open… Read More
Pennsylvania Gov.’s Office Requests Congressional Cannabis Banking Protections
On Friday, the administration of Pennsylvania Gov. Tom Wolf (D) wrote a letter to top leaders in Congress calling for… Read More
Federal Enforcement Fears Shelve CA Banking Bill
Last week, state lawmakers in California ceased consideration of a bill to create state cannabis banks due to an analysis… Read More
U.S. House Committee Rejects Cannabis Banking Measure
Wednesday, the U.S. House of Representatives’ Appropriations Committee voted down a measure designed to protect banking institutions that are willing… Read More
California Senate Advances Bill Establishing Statewide Cannabis Banking Services
The California Senate has advanced Senate Bill 930 — a.k.a. the Cannabis Limited Charter Banking and Credit Union Law — which seeks… Read More
West Virginia Treasurer Outlines Proposals to Offer Financial Services to MMJ Firms
West Virginia Treasurer John Perdue has sent a letter to Gov. Jim Justice outlining two plans to provide the state’s… Read More
California Bill Would Create Limited-Service Canna-Banks
A bill proposed in California would create limited-service banks and credit unions to serve the state’s cannabis industry, according to… Read More
Washington Break-Ins Reinforce Cannabis Banking Concerns
With a surplus of cash and cannabis products always on hand, dispensary locations are prime targets for robbery. Washington state… Read More
Illinois’ Bank of Springfield Closing All MMJ Industry Accounts
Illinois’ Bank of Springfield is closing the accounts of the state’s medical cannabis companies by May 21 leaving most of… Read More
Alaska Lab Forced to Close After Bank Calls in Loan on Building Citing Federal Law
Anchorage, Alaska’s Steep Hill has been forced to suspend operations after Wells Fargo bank called in the loan on the… Read More