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Banking Services Cannabis Industry
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.
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.
Cannabis Rescheduling Won’t Solve Industry Banking Problems, Legal Risks
Bank Secrecy Act obligations and federal anti-money laundering laws would still apply to cannabis under a Schedule III listing, legal expert says.
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.
LeafLink Acquires Leading Cannabis Banking Platform Dama Financial
The acquisition will allow LeafLink to offer industry access to secure, compliant and reliable banking solutions.
Safe Harbor Financial Exits $3.1 Million Loan in Default, Collecting 100% of Principal, Plus Over $200,000 in Accrued Interest
The company will reallocate the $3.3 million to its lending and credit line capacity.
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.
Where All 100 US Senators Stand on SAFER Banking Act
At least 59 senators support or likely support the cannabis reform legislation as Majority Leader Chuck Schumer holds keys to floor vote.
Schumer Says He’ll ‘Turn’ to Cannabis Banking Bill Soon
The U.S. Senate majority leader mentioned the SAFER Banking Act among a short list of legislative priorities this year.
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.
Congressional Research Service Says Lack of Banking Services Makes Cannabis Businesses ‘Target for Theft’
A new report lays out policy issues related to cannabis banking.
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.
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