A bill to significantly expand Delaware’s medical marijuana program is heading to the governor’s desk. At the same time, separate legislation to provide state-level protections for banks that work with cannabis businesses has passed through the House of Representatives and now moves on to the Senate. As Delaware prepares to implement adult-use marijuana legalization, both … [Read more...] about Delaware Bill To Expand Medical Marijuana Access Heads To Governor’s Desk, As House Passes Cannabis Banking Measure
Banking
Local Bank To Become First To Fully Serve Guam’s Cannabis Industry
Bank of Guam announced in a press release on Wednesday that the launch of “Cannabis Banking” will give it a “platform [to allow] cannabis clients the ability to share data from their day-to-day business activities, such as sales, inventory and required licensing documentation.” According to The Guam Daily Post, “Cannabis Banking” will make the institution the first in the … [Read more...] about Local Bank To Become First To Fully Serve Guam’s Cannabis Industry
Congressional Research Service Says Lack of Banking Services Makes Cannabis Businesses ‘Target for Theft’
The Congressional Research Service indicated in a report this week that the lack of banking services offered to the cannabis industry makes businesses “a target for theft” and suggested policy issues Congress should explore as it relates to cannabis banking. The report, published Feb. 6, describes the disparity in federal and state cannabis laws that leave many banks hesitant … [Read more...] about Congressional Research Service Says Lack of Banking Services Makes Cannabis Businesses ‘Target for Theft’
Is marijuana banking reform on the way?
In an age where it seems like you can buy anything with the swipe of a credit card or the tap of a phone, the marijuana industry stands out. Thanks to federal banking rules, legal cannabis dispensaries are cash dependent, and they face steep or insurmountable hurdles when it comes to banking. “It's an extremely challenging obstacle for us as a business or an industry, I guess, … [Read more...] about Is marijuana banking reform on the way?
Millions in Cannabis Gains for Partner Colorado CU Go Up in Smoke
Last September the 36,000 members of little Partner Colorado Credit Union stood to make $70 million in cash and $117 million in stock for a 51% stake in a public company it was spinning out from its cannabis CUSO. Before the deal, Partner Colorado members had about $238 each based on the approximately $8.5 million value the credit union had placed on its investments in its 100% … [Read more...] about Millions in Cannabis Gains for Partner Colorado CU Go Up in Smoke
High & Dry: Banking Crisis to Further Choke Funding for Cannabis Sector
(Reuters) - The global banking turmoil threatens to squeeze U.S. cannabis companies already struggling with meager funding sources by drying up support from regional lenders and tightening fundraising from alternative avenues. Most U.S. banks do not service cannabis companies as marijuana remains federally illegal despite several states legalizing its medicinal and recreational … [Read more...] about High & Dry: Banking Crisis to Further Choke Funding for Cannabis Sector
Weed’s Banking Bill Is Struggling — But It Isn’t a Panacea Anyway
Representative Ed Perlmutter, a Democrat from Colorado, speaks outside the US Capitol earlier this year about the SAFE Banking Act. Follow the money as Tiffany Kary shows you how once-illegal drugs like marijuana and psychedelics are becoming big business. Welcome to my latest look at the cannabis and psychedelics industries. Stalled attempts to get a piece of banking … [Read more...] about Weed’s Banking Bill Is Struggling — But It Isn’t a Panacea Anyway
‘Banks will not support it’: Buying legal cannabis in CT? Here’s how it will be handled
News provided by Jordan Fenster on CTInsider Travel to Massachusetts or over to New Jersey to buy cannabis. If you use a card, it’s likely the “budtender” will give you change in cash. Selling recreational-use cannabis is not illegal in Massachusetts and New Jersey, and will not be illegal in Connecticut when the state finally gives the nod to the first retail establishments, … [Read more...] about ‘Banks will not support it’: Buying legal cannabis in CT? Here’s how it will be handled
State Lawmakers Across The U.S. Call For Federal Marijuana Legalization And Banking Reform In Revised Resolution
By Kyle Jaeger on https://www.marijuanamoment.net The non-partisan National Conference of State Legislatures (NCSL) has voted to adopt a revised policy directive that expresses support for federal marijuana descheduling and cannabis banking reform amid the state-level legalization movement. The measure, which builds on an existing directive that NCSL passed in 2018, was … [Read more...] about State Lawmakers Across The U.S. Call For Federal Marijuana Legalization And Banking Reform In Revised Resolution
SAFE Banking
The SAFE Banking in Cannabis Act Passed the House – What Happens Next? Three Scenarios As you may have heard, late Wednesday afternoon the U.S. House of Representatives passed the first piece of legislation in its history to ease federal cannabis penalties. The SAFE Banking in Cannabis Act passed in a landslide supermajority vote – 91 Republicans joined all but one … [Read more...] about SAFE Banking
