Tag: CBT > Business Issues/ Benchmarks > Cannabis Banks

New York

Less Than 1.5% of New York’s Banks, Credit Unions Service Cannabis Industry

The state launched a cannabis banking directory for the industry, but the list of financial institutions is limited.

February 6, 2025

SAFE Banking Act

Senate Banking Committee Witness Urges Members to Improve, Pass SAFE Banking Act

Aaron Klien, of the Brookings Institute, told lawmakers that legislation for the cannabis industry needs to address ‘costly and unproductive’ SAR filings.

February 5, 2025

Finance

Green Thumb Industries Refinances Senior Debt, Closing on $150 Million Syndicated Credit Facility

The cannabis company intends to use the proceeds along with existing cash to retire its $225 million senior secured debt.

September 12, 2024

Banking Services Cannabis Industry

Federal Marijuana Rescheduling on the Horizon: A Big Step Forward But Not the Be-All-End-All

Rescheduling does not make cannabis legal throughout America and the U.S. territories; It makes cannabis a federally regulated medication—and many questions remain about the fate of the industry.

May 23, 2024

Legislation and Regulation

Which US Senators Have Signed Their Names to the SAFER Banking Act of 2023?

Since the revised cannabis banking bill was introduced in late September, 36 lawmakers have decided to sign the legislation. Here’s the (fluid) list.

February 29, 2024

Legislation and Regulation

US Senator Asks 8 Banking CEOs If They Support SAFER Banking Act; 1 Raises Hand

The senator, who was the lone Democrat to oppose the legislation during a committee markup in September, pressed the top bankers on the cannabis issue.

December 7, 2023

Finance

CFIG Releases Business Guide for Cannabis Banking Options

The Cannabis Financial Industry Group published the guide to help cannabis-related businesses better assess financial institutions offering services.

December 5, 2023

Legislation and Regulation

WATCH NOW: Senate Banking Committee's Markup on SAFER Banking Act

Watch the live video of the 23-member committee's hearing on the cannabis banking bill.

September 27, 2023

Legislation and Regulation

SAFER Banking Act Approved in Committee, Signaling Major Victory for Cannabis Reform

The cannabis banking bill survived its first-ever Senate markup and now moves to a full vote on the floor of the chamber.

September 27, 2023

Legislation and Regulation

Vote Count: How the SAFER Banking Act’s Markup Will Likely Shake Out

Two key Senate Banking Committee members will probably miss the markup hearing, but the revised legislation is poised for approval (maybe).

September 26, 2023

Legislation and Regulation

SAFE Banking Act: How We Got Here, What’s Next For SAFER

The four corners of Washington’s political playbook have repeatedly stood in the way, but will this U.S. Congress be different?

September 25, 2023

Finance

SAFE Banking Act’s Revised Title, Text Unveiled Ahead of Committee Markup

The eight pages of additional text primarily deal with the bill’s contentious Section 10.

September 20, 2023