The movement to provide a limited bank charter to serve marijuana businesses in California inched forward when the California Senate approved SB 51 by an almost unanimous vote, sending the measure to the Assembly for review.
Support continues to build for the Secure and Fair Enforcement (SAFE) Banking Act, with a coalition of 38 state and territorial Attorneys General as well as the American Bankers Association (ABA) writing to lawmakers to urge passage of the bill.
On April 9, 2019, the New York City Council overwhelmingly approved legislation that will prohibit employers from requiring prospective hires to submit to pre-employment testing for the presence of marijuana.
Legislation on cannabis banking continues to make its way through the House of Representatives, with one bill garnering approval by the Financial Services Committee.
Lawmakers recently met to consider cannabis banking, discussing two different bills that have been introduced to solve the problem of providing financial services to an industry that operates under a cloud imposed by federal law.
The future of financial services for marijuana businesses may be brighter if current nominee for attorney general William Barr is confirmed by the U.S. Senate for the position.
A new study has cast a shadow on plans for a state-owned bank to service the cannabis industry in California.
2018 was generally a solid year for banks looking at merger and acquisition opportunities and reaching for the capital markets, but there are some headwinds in 2019 that give us pause about what the future holds.
Aiming to establish “a trustworthy, professional and ethical business space,” the cannabis industry’s self-regulatory organization finalized its first Advertising Standards.
In the latest state-level communication directed toward the federal government, more than a dozen state banking supervisors encouraged congressional leadership to enact a safe harbor for financial institutions working with marijuana-related businesses or grant the states jurisdiction over ...