SAFE Banking Act

Marijuana banking legislation will not be included in the final version of the United States Innovation and Competition Act (a/k/a The America COMPETES Act), bipartisan congressional members concluded, Punchbowl News first reported on Thursday. Even though the U.S. House of Representatives formally...

Will there be an omnibus cannabis legalization bill enacted this year in the U.S.?  According to recent discussions, anything is possible. On the heels of a recent discussion between Sen. Chuck Schumer (D-N.Y.) and GOP House Rep. Dave Joyce (R-OH) on possible...

The Senate has been under pressure from all sides recently to pass the SAFE Banking Act that would "help cannabis-related businesses, support innovation, create jobs, and strengthen public safety in our communities." Just recently, about a quarter of voting members of the House of...

Senator Steve Daines (R-MT) continues to fight for cannabis companies to have access to banking services via the Secure and Fair Enforcement (SAFE) Banking Act, which has been approved by the House several times already. The GOP Senator released a video ad on Monday in which...

Senator Jacky Rosen (D-Nev) sent a letter recently urging the appropriations committee to provide licensed marijuana businesses with access to Small Business Administration loans, reported Nevada Appeal.  Cannabis companies are currently banned from accessing SBA...

Morocco’s Agency To Regulate Medicinal Cannabis Holds First Meeting The upper house of Morocco's parliament approved a bill to legalize the cultivation and commercialization of cannabis for medicinal and industrial uses last year. Now, the country’s regulatory body which will...

There’s no doubt that important changes in the cannabis industry, such as legalization efforts, directly impact weed stocks. On the news of possible federal legalization, marijuana stocks usually trade higher. However, with so many delays and industry experts opining that ...

The American Bankers Association (ABA) and the State Bankers Association, which represent banks of all sizes from every state in the country, sent a letter to Senate leaders asking them to include the Secure and Fair Enforcement (SAFE) Banking Act, in America COMPETES Act, an innovation and...

The U.S. House of Representatives approved the Secure and Fair Enforcement (SAFE) Banking Act by a vote of 321-101 on 4/20. This was the fourth time the House passed a bill that seeks to protect banks servicing state-legal cannabis businesses from federal prosecution. Reps. Ed Perlmutter (D)...

Colorado Attorney General Philip Weiser (D) and Ohio Attorney General Dave Yost that make a bipartisan duo, earlier this month sent a letter to U.S. Senate leadership demanding the passage of the cannabis-related SAFE banking bill. The Secure and Fair Enforcement (...

Leonard Tannenbaum, founder, chairman and CEO of AFC Gamma Inc (NASDAQ: AFCG), does not hold much hope the SAFE Banking Act will pass into law this year.  In an interview with Brady Cobb, founder of Sunburn Cannabis, at the Benzinga Cannabis Capital Conference on Wednesday, Tannenbaum...

New York State Senator Jeremy Cooney presented the first of two pieces of cannabis legislation that should help advance efficiency and compliance across the marijuana banking industry, reported Syracuse.  Under the so-called Cannabis Banking and Disclosure Act, ...

Federal cannabis legalization is unlikely to happen any time soon, according to analysts from Piper Sandler and Beacon Policy Advisors LLC.  Marijuana Opportunity, Reinvestment and Expungement (MORE) Act is poised to end up on the House floor this week, but various marijuana industry...

This article was originally published on Cannabis & Tech Today and appears here with permission. Banking in the cannabis industry can be difficult for a number of reasons. The first of which – cannabis’ status of illegality on a federal level – begets most of the other...

By Laura Chambers, Abaca Cannabis advocates, entrepreneurs, and investors must be resilient, eternal optimists for many reasons – one of them being the annual resurrection of banking reform legislation that passes in the House only to be shot down in the Senate. Cannabis has been state-legal...