Banking Services Cannabis Industry: Page 2

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.

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.

Lawmakers Urge Federal Officials to Update ‘Out-of-Date Guidance’ on Providing Banking Tools to Cannabis Business Owners Convicted of Cannabis-Related Crimes

A group of 20 Democratic members of the House and Senate sent a letter to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network urging them to revise “red flags” for cannabis business owners.

Bank of America, National Rifle Association Lobby on Cannabis Banking Reform

The two entities included the SAFER Banking Act in their recent lobbying disclosures.

Senate Majority Leader Vows to Bring SAFER Banking Act to Floor—And Other Reactions to Bill’s Advancement

The Senate Banking Committee approved the legislation Sept. 27, sending it to the floor, where Sen. Chuck Schumer plans to call a vote “as quickly as possible.”

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.

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