While cannabis companies often stumble to locate financial institutions that are willing to take them on as customers due to hazards caused by the ongoing federal prohibition of cannabis, a new analysis found that financial activity accumulates in states that legalize the sticky leaf. The examination doesn’t make a natural tie between state-level cannabis reformContinue reading “Cannabis Banking in Legal States”
Tag Archives: SAFE Banking Act
New Bill Could Grant Cannabis-friendly Banks Protection
As congressional legislators continue to chase a measure to nationally protect banks that operate with Pennsylvania-legal cannabis companies, a bipartisan pair of Pennsylvania Pennsylvania senators have revealed that they will soon be debuting ‘buddy’ legislation Commonwealth. Earlier this week, Senators John DiSanto (R-PA) and Sharif Street (D-PA) circulated co-sponsorship memorandums to colleagues disclosing their planContinue reading “New Bill Could Grant Cannabis-friendly Banks Protection”
Lawmakers Implant Cannabis Banking Reform in National Defense Bill
Representative Ed Perlmutter (D-CO) is “still pretty upset” that cannabis financing reform was left out from a defense bill earlier this month—evidently at the direction of the Democratic Senate administration. Despite this, Perlmutter expressed in an interview with a known cannabis news source that the congressional discussion that thereafter ensued has furthered the cause ofContinue reading “Lawmakers Implant Cannabis Banking Reform in National Defense Bill”
Is Cannabis Banking Reform on the Horizon?
Senate authority has received another letter demanding that cannabis banking reform be established as part of defense legislation—this time from financial organizations and labor coalitions. The American Bankers Association, also known as ABA, the Credit Union National Association also known as CUNA, the United Food, and Commercial Workers Union, also referred to as UFCW, andContinue reading “Is Cannabis Banking Reform on the Horizon?”
Bank of America Terminates Popular Cannabis Account without Cause
One of the largest banks in the States is closing down the account of a research institute that’s federally commissioned to grow and study Schedule I substances like cannabis and psilocybin (magic) mushrooms. Bank of America, usually stylized as BoA, randomly informed the Scottsdale Research Institute or the SRI to terminate its accounts this week.Continue reading “Bank of America Terminates Popular Cannabis Account without Cause”
Banking in the Cannabis Industry in 2021
Banking in the Cannabis Industry in 2021 As of October of 2019, the social and political landscape of cannabis has soared to unbelievable heights. Not only have ultra-conservative states such as Indiana began dismissing minor cannabis possession, cannabis companies are catching a break as the SAFE Banking Act passes. Over the last three years, cannabisContinue reading “Banking in the Cannabis Industry in 2021”