With Democrats in control of the White House and Congress (at least until the 2022 midterm election), the question remains as to whether this is the year that the federal government enacts meaningful cannabis banking reform.
As a refresher, in
Tracking Cannabis
Blog Authors
Latest from Tracking Cannabis
Proposed bill may ease access to financial services for California cannabis businesses
By Publisher
On August 11, 2020, the California Senate Banking and Financial Institutions Committee will hold a hearing on Assembly Bill 1525. The bill, which passed in the Assembly 68-1, protects financial institutions who provide services to licensed cannabis businesses and increases…
FinCEN guidance looks to enhance availability and transparency of financial services to hemp companies
On June 29, the Financial Crimes Enforcement Network (“FinCEN”) provided additional guidance for financial institutions that monitor hemp-related companies (the “Guidance”). Such Guidance provides a clarification that “is intended to enhance the availability of financial services for, and the financial…
How California is defending statewide cannabis delivery
By Publisher
The viability of many California cannabis delivery businesses may be at stake next month as a landmark lawsuit brought by local municipalities against the Bureau of Cannabis Control (“BCC”) heads to trial. Last year, the County of Santa Cruz and…
Cannabis and Coronavirus: Issues for cannabis-related businesses to overcome
As the rest of the world reels from the effects of COVID-19 and “social distancing,” the legal cannabis industry is feeling the pain as demand declines and sales suffer. Despite this and the general aversion toward in-person sales, many states…
Cannabis banking bill heads to U.S. House for a vote
Next week, the U.S. House of Representatives will vote on H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act. This is a long-anticipated step forward, as there has not been a stand-alone vote on cannabis legislation in Congress…
ABA urges Congress to reform federal cannabis policy
By Carl Rowley & Jack Jacobson
In a rare showing of support for principles of federalism, the American Bar Association House of Delegates has adopted a resolution that recommends the rescheduling or de-scheduling of cannabis under the federal Controlled Substances Act (CSA) and calls on Congress…
Governor Pritzker signs bill expanding medical cannabis program
By Kevin Young
On August 9, 2019, Illinois Governor J.B. Pritzker signed into law Illinois Senate Bill 2023, which amends and makes permanent the State’s pilot medical cannabis program (the “Compassionate Use of Medical Cannabis Pilot Program Act” or “MCPPA”). The amendment will…
What’s new for medical cannabis facilities after the Cannabis Regulation and Tax Act
By Kevin Young
On June 25, 2019, Illinois Governor J.B. Pritzker signed into law the Illinois Cannabis Regulation and Tax Act (“CRTA”), making recreational cannabis use legal for adults 21 and older. Additionally, the CRTA addresses the following topics relevant to facilities currently…
Highlights from Missouri Cannabis Business Breakfast
On June 25th, Thompson Coburn’s St. Louis office, along with Anders CPAs and Powers Insurance, hosted prospective cannabis-industry players for its Missouri Cannabis Business Breakfast: Final Considerations. St. Louis partners Carl Rowley, Gayle Mercier, Greg Mennerick,…