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Issue: In an effort to boost GOP support, House Democrats have added two provisions to The Secure and Fair Enforcement (“SAFE”) Banking Act. The latest version of the legislation, which would shield financial services companies from providing services to marijuana vendors legal under state law, now also contains specific language protecting hemp businesses, as well […]

Issue: This week, the House of Representatives passed The Secure and Fair Enforcement (SAFE) Banking Act by a vote of 321-103, with 91 Republicans voting in favor of the bill and only 1 Democrat voting in opposition. The legislation would provide a safe harbor from Federal regulators for financial institutions providing services to cannabis businesses. […]

Issue: Yesterday, Senate Banking Committee Chairman Mike Crapo (R-ID) stated his intention to hold a markup by the end of the year on legislation to provide a safe harbor for financial institutions to service cannabis businesses. The Senate Banking Committee held a hearing on the issue in July, and Crapo stated his support to move […]

Issue: Following last week’s hearing in the Senate Banking Committee, Chairman Mike Crapo (R-ID) backed legislation to provide a safe harbor to financial institutions offering services to cannabis businesses. In an interview today, Crapo said: “I think all the issues got well vetted. We now need to, I think, move forward and see if there’s […]

Issue: House Democrats are continuing their push to relax Federal restrictions on cannabis through the appropriations process. This week, the House will consider H.R. 3055, The Departments of Commerce, Justice, Science, and Related Agencies [Commerce, Justice, Science, Agriculture, Rural Development, Food and Drug Administration, Interior, Environment, Military Construction, Veterans Affairs, Transportation, and Housing and Urban […]

Issue: After Congress removed cannabidiol (CBD) from the Controlled Substances Act’s list of Schedule I drugs in the 2018 Farm Bill, government agencies have struggled to adjust their regulations. The Drug Enforcement Agency (DEA) and Customs & Border Protection (CBP) are no exception. CBP still maintains its pre-Farm Bill practice of holding, seizing, and destroying […]

Issue: 38 of the top U.S. state and territorial law enforcement officers signed a letter to Congress to pass the so-called Secure And Safe Enforcement[SAFE] Banking Act, legislation which would allow marijuanarelated businesses to access Federally-regulated banks and financial institutions. The Attorneys General asked House and Senate Leadership, as well as the top members on […]

Issue: Today, in remarks before the Independent Community Bankers of America (ICBA), Senate Banking Committee Chairman Mike Crapo (R-ID) argued that the Department of Justice (DoJ) should act to resolve legal uncertainty regarding cannabis and cannabis-related businesses before the Senate Banking Committee takes up legislation to provide financial services firms with greater legal certainty in […]

Issue: With the 2018 Farm bill establishing a pathway for the legalized regulation of hemp, the task has now fallen to the U.S. Department of Agriculture (USDA) to formalize rules and regulations. This will involve approving state plans where hemp is already legal as well as establishing a framework to monitor and regulate the production […]