Tag: CBT > Business Issues/ Benchmarks > Banking Services Cannabis Industry: Page 3

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

Legislation and Regulation

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.

September 19, 2023

Safety

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.

September 12, 2023

Maryland

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.

September 7, 2023

Banking Services Cannabis Industry

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.

August 23, 2023

Legislation and Regulation

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.

July 14, 2023

Finance

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.

July 13, 2023

Banking Bill Cannabis Industry

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.

June 8, 2023

SAFE Banking Act

SAFE Banking Testifiers Provide Mixed Reviews in Senate Banking Committee Hearing

The congressional body invited witnesses from UFCW, SAM, Dama Financial and Cannabis Regulators of Color Coalition to speak.

May 11, 2023

SAFE Banking Act

SAFE Banking Bill is Back—Back Again—Again, Again, Again …

The bipartisan federal legislation aimed at providing safe harbor to financial institutions servicing the cannabis industry was reintroduced in Congress.

April 27, 2023

Legislation and Regulation

SAFE Banking Hopes Fade as Congress Scrambles to Approve Spending Deal

While some lawmakers are pushing to include the SAFE Banking Act in the omnibus spending bill, it is possible that cannabis banking reform efforts will be punted to 2023.

December 19, 2022

Legislation and Regulation

Senate Minority Leader Mitch McConnell Squashes Democrats’ Efforts to Add SAFE Banking Provisions to Defense Bill

McConnell called on Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi to remove the cannabis-related language from the National Defense Authorization Act.

December 7, 2022