Tagged With: Banking
House Appropriations Committee Blocks Cannabis Banking Amendment
The House Appropriations Committee took up and defeated language known as the Safe Banking Amendment offered by Congressman Dave Joyce (R-OH) on Wednesday, June 13th. If adopted, regulators would not be authorized to use federal funds to threaten sanctions against banks working with marijuana-related businesses and entrepreneurs. The defeat of the Safe Banking Amendment was not a … Continue reading
Congressman Heck Introduces Marijuana Banking Amendments
Congressman Denny Heck (WA-10) with Representatives Perlmutter (CO-07), Lee (CA-13), and Titus (NV-01) have submitted two amendments to the financial services division to be included in the House appropriations bill. Both of these amendments focus on banking services for legal marijuana-related businesses and would be a temporary fix until the current legislation, the SAFE Banking … Continue reading
Support The Secure and Fair Enforcement Banking Act (SAFE Banking Act)
A bipartisan coalition of more than two dozen co-sponsors have introduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 2215, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. If enacted, banks would no longer face the threat of federal sanction for … Continue reading
Where Is The Future For Marijuana Banking Reform?
The election of Donald Trump coincided with a whirlwind of activity surrounding marijuana policy, as voters in eight states decided in favor of initiatives regulating the distribution of cannabis for either medical or non-medical purposes. Yet despite this statewide progress, the specter of marijuana prohibitionists such as Alabama Sen. Jeff Sessions being appointed to federal … Continue reading
Federal: Bipartisan Coalition Introduces the Marijuana Businesses Access to Banking Act of 2015
Members of the US House and Senate are sponsoring The Marijuana Businesses Access to Banking Act of 2015 to permit financial institutions to engage in business relationships with the marijuana industry. In November, the bill received support from Senate Minority Leader Harry Reid who signed on as a cosponsor of the bill. The House version of … Continue reading
Oregon: Governor Signs Marijuana Banking Reform Measure
Governor Kate Brown has signed legislation into law that seeks to encourage financial institutions to engage in financial relationships with state-compliant marijuana businesses. The emergency legislation, House Bill 4094, “exempts financial institutions that provide financial services to marijuana related businesses, researchers and laboratories from any criminal law of this state” if it can be substantiated … Continue reading
