Banking Services Cannabis Industry: Page 3

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.

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).

National Conference of State Legislatures Signals Support for SAFER Banking Act Ahead of Committee Markup

The NCSL sent a letter to congressional leadership Sept. 25 to express the organization’s support for cannabis banking reform.

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?

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.

UPDATE: SAFE Banking Act on Cusp of Markup, Advancement in Senate Banking Committee

A full committee markup on the legislation is scheduled for Sept. 27.

US Senator Urged to Rescind Support of SAFE Banking

Sen. Tommy Tuberville, who’s been vocally supportive of cannabis banking reform, now represents a battleground vote for prohibitionists.

Maryland Cannabis Sales Crack $420 Million For Year; Tax Revenue’s Banking Scrutinized

The state’s licensed dispensaries reported more than $104 million in adult-use cannabis sales in the first two months since the program launched.

Cannabis Payment Company Spence Labs Files Lawsuit Against Fidelity, Subsidiary Worldpay

The plaintiff claims Fidelity National Information Services breached a contract to develop financial technology for licensed cannabis dispensaries.

SAFE Banking Backed by At Least 9 GOP Senators; Bill Lies Largely in Democrats’ Court

The Republican support indicates legislation to provide traditional banking services to the cannabis industry has the votes to avoid a filibuster.

Cannabis Financial Industry Group Releases Cannabis Banking Standards

The coalition published the resource to help financial institutions understand strict compliance policies as the SAFE Banking debate continues in Congress.

UPDATED: Illinois Governor Signs Budget Bill With Cannabis Tax Provisions

Gov. J.B. Pritzker signed legislation that will allow licensed cannabis businesses to take state tax deductions that are currently prohibited at the federal level.

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