Tag

Marijuana Banking

All articles tagged with #marijuana banking

cannabis2 years ago

Marijuana Banking Vote Delayed Despite State Associations' Rally

A coalition of state marijuana associations, including the American Trade Association for Cannabis and Hemp (ATACH), is urging Senate leaders to pass the Secure and Fair Enforcement (SAFE) Banking Act without delay. The associations argue that the current lack of access to banking services for marijuana businesses is leading to public health and safety risks, including armed robberies and violence. However, the letter comes after Senate Banking Committee Chairman Sherrod Brown reportedly stated that there will be no vote on the bill in his panel next week. Disagreements over certain sections of the bill and the inclusion of social justice reforms have contributed to the delay.

cannabis2 years ago

Missouri Governor Approves Marijuana Banking Bill

Missouri Governor Mike Parson has signed a public safety bill that includes provisions to improve banking access for marijuana businesses in the state. The legislation allows the Department of Health and Senior Services to share inspections and other information with banks, making it easier for them to serve cannabis businesses. However, the bill also requires all employees, contractors, and volunteers in the cannabis industry to undergo fingerprint background checks, which could slow down the hiring process. Supporters argue that improving banking access is a public safety issue, as cash-only transactions make businesses vulnerable to robberies.

politics2 years ago

Senate Committee Expands Marijuana Banking Hearing with Additional Witnesses

The U.S. Senate Banking Committee has added new witnesses who will testify at a hearing on bipartisan marijuana banking bill this week. In addition to the top bipartisan sponsors of the Secure and Fair Enforcement (SAFE) Banking Act, an equity-focused cannabis reform activist, a union representative, a cannabis financial services company executive and a leading prohibitionist advocate will also share their perspective on the legislation and underlying financial services issues in the cannabis industry at Thursday’s hearing. Senators on both sides of the aisle have been pushing for urgent action on the standalone SAFE Banking Act, which would protect banks that work with state-legal cannabis businesses from being penalized by federal regulators.