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Historic Action on the Hill: Cannabis Banking Bill Passes House

October 31, 2019 | Compliance

As the state-legal cannabis industry continues to march forward at a nearly unprecedented pace, it has remained hobbled by federal legal constraints. The fact that cannabis is illegal at the federal level throws myriad wrenches into the works. Banking is the most notable sticking point.

To run a legitimate business, one needs access to a legitimate bank, but the federal government’s stance on cannabis makes banks hesitant to take on cannabis businesses as clients. In a  response that many consider … Read More

The Cannabis Industry Moves Closer to SAFE Banking

April 26, 2019 | Compliance

The House Financial Services Committee recently voted in approval of legislation intended to increase the cannabis industry’s access to banking, and that’s huge. With a 45 to 15 vote that followed several days of debate and amendment considerations, the legislation advances to the full body of Congress.  While action on the floor has yet to be scheduled, this bill solidifies legalization advocates’ long-held hope that the House is prepared to take on sweeping marijuana reforms in 2019.

The House Financial … Read More

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