Category Archives: banking

A Marijuana Dispensary Is Issuing Its Own Credit Card For Cannabis Consumers

If you have ever frequented a marijuana dispensary, chances are you have both arrived and left with plenty of green. That’s because many shops require cash to complete a transaction, a byproduct of pot’s illegal status on the federal level.  But one cannabis company is aiming to change that. CBS News reported last week on […]

Hundreds Of Cannabis Businesses Working With Banks In Colorado

DENVER (AP) — Colorado’s cannabis industry has had a chief request since marijuana was legalized: Give us access to banks. But it turns out that hundreds of the state’s pot businesses are already working with financial institutions under the close watch of federal regulators, even though marijuana remains illegal at the federal level. As many […]

Take it to the Bank: Marijuana Businesses Are Playing it SAFE

Is this the writing on the wall? In what looks to be the biggest step forward toward the ultimate legalization of marijuana on the federal level, the U.S. House of Representatives just passed the Secure and Fair Enforcement Act, or SAFE Banking Act, a critical step toward clearing the way for cannabis-related businesses to operate […]

House of Representatives Passes SAFE Banking Act

The U.S. House of Representatives voted on Wednesday to approve a bill that would allow legal cannabis businesses access to the nation’s banking system. The measure, the Secure and Fair Enforcement (SAFE) Banking Act, was passed with a House floor vote by a margin of 321 to 103. If passed by the Senate and signed […]

SAFE Banking Act Heads To House Of Representatives Next Week

We’re hovering on the brink of the first pro-marijuana federal legislation in an age. On Friday morning, the House confirmed that the Secure and Fair Enforcement (SAFE) Banking Act will be put to a vote next week. The proposed legislation is only the third piece of potential cannabis law to make it out of committee, […]

Key Takeaways from Today’s Hearing on the SAFE Banking Act

A Senate committee held a hearing on Tuesday to discuss ways for cannabis businesses operating legally under state law to obtain access to banking and financial services. At the hearing, Senators and witnesses including members of the cannabis industry focused on the Secure and Fair Enforcement (SAFE) Banking Act of 2019. Under the measure, federal […]

Senate Schedules Hearing on Cannabis Banking Bill

A Senate legislative committee has scheduled a hearing on a bill that would give cannabis businesses operating legally under state law access to the U.S. banking industry. The hearing before the Senate Committee on Banking, Housing, and Urban Affairs on “Challenges for Cannabis and Banking: Outside Perspectives” will be held on Tuesday, July 23 and […]

Michigan Governor Adds Voice to Push for Banking Access for Cannabis Businesses

A bipartisan group of 20 state and territorial attorney generals has called for the passage of a federal bill that would give cannabis industry businesses access to the U.S. banking system. In a letter sent to leaders of both the U.S. Senate and House of Representatives on Thursday, the governors urged the passage of the […]

Attorneys General from 33 States Call for Passage of Cannabis Banking Bill

Attorneys general from 33 states and five federal territories called for passage of a bill pending in the U.S. Congress that would allow legal cannabis businesses access to the banking industry. In a letter sent to congressional leaders on Wednesday, the National Association of Attorneys General called for the approval of the Secure and Fair […]

Cannabis Banking Bill Clears House Finance Committee

With a 45 to 15 vote Thursday, the House Financial Services Committee has advanced a major federal marijuana reform bill that would significantly expand legal cannabis businesses’ access to financial services. The Secure and Fair Enforcement (SAFE) Banking Act is just the third standalone cannabis bill to clear a congressional committee. And while no floor […]