Secure and Fair Enforcement (SAFE) Banking Act

As the clock ticks toward January 1, 2024, the Corporate Transparency Act (CTA) is on the verge of reshaping reporting obligations, casting a spotlight on nonexempt entities and triggering implications within the cannabis sector. The CTA: Background And Objectives Enacted under the National Defense...

In a pivotal moment for the American cannabis sector, the U.S. Department of Health and Human Services (HHS) has proposed a reclassification of cannabis to the DEA. This could shift cannabis from its current Schedule I status, bringing potential upheaval in the perception and market dynamics of the...

Senate Majority Leader Chuck Schumer (D-NY) is gearing up for a renewed legislative push to achieve bipartisan cooperation on marijuana banking reform when the Senate reconvenes next month, reported Marijuana Moment. In a bid to secure broad support for the Secure and Fair Enforcement (SAFE)...

A coalition of marijuana advocacy groups, known as SAFE Banking for Equity is demanding a leap forward in the cannabis industry. They are urging senators to expand financial inclusion and a rightful place for cannabis businesses on senior U.S. stock exchanges. Their mission is...

Senators are urging the Senate Appropriations Subcommittee on Financial Services and General Government (FSGG) to level the playing field for the state-legal marijuana industry by extending Small Business Administration (SBA) programs and services. Cannabis companies currently are barred from...

Cannabis research firm, Whitney Economics, conducted an impact analysis of federal taxes on the cannabis industry and it was not very pretty. In 2022 alone, cannabis operators paid over $1.8 billion in additional taxes as compared to ordinary businesses. And worse, this excess is...

During the American Bankers Association (ABA) Washington Summit, a co-sponsor of the Secure and Fair Enforcement (SAFE) Banking Act and member of the Senate Banking Committee urged bankers to organize a group of lobbyists to help promote the passage of the marijuana banking bill in the current...

Equity cannabis licensees and applicants from New York and New Jersey are urging Senate Majority Leader Chuck Schumer (D-NY) to get the United States get the Secure and Fair Enforcement (SAFE) Banking Act passed in the Senate. A total of 40 signatories joined that call to demand the...

Rep. Ed Perlmutter (D-CO), the House sponsor of a bipartisan cannabis banking bill expressed that the federal legalization measure recently introduced for Senate Majority Leader Chuck Schumer (D-NY) is the “hurdle that lawmakers needed to overcome to finally pass his more modest reform...

Kendra Horn, a US Senate candidate, joined 164,000 Oklahomans in signing the petition for State Question 820 to legalize medical and recreational marijuana.  “I believe Oklahomans have the right to make their voices heard at the ballot box on this and other issues,...

Rep. Ed Perlmutter (D-CO), House sponsor of a bipartisan marijuana banking reform bill, filed an amendment to the Fiscal Year 2023 National Defense Authorization Act (NDAA) that would be incorporated into the Secure and Fair Enforcement (SAFE) Banking Act, reported Marijuana Moment. Last...

Fiscal Year 2023 spending bills for the Department of Homeland Security (DHS), Financial Services and General Government (FSGG) the and U.S. Agriculture Department (USDA) are proposing a number of new cannabis policy changes, reported Marijuana Moment. The updated Congress bill contains new...

Independent Community Bankers of America (ICBA) and most state community banks are asking Congress to pass cannabis banking reform, which is currently before a bicameral conference committee, reported Marijuana Moment. The national financial group—joined by 44 state community...

During its 90th annual meeting, the U.S. Conference of Mayors approved a resolution demanding that Congress pass a bill to safeguard banks that work with state-legal marijuana businesses, reported Marijuana Moment. The proposal focused on marijuana banking reform. The Conference also expressed...

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 (...