Federal cannabis policy is progressing in Congress and the Biden Administration, with the SAFER Banking Act and MORE Act advancing and talk of rescheduling. Many federal cannabis policy bills have made little progress. But major changes could be on the horizon. Senate Advances Cannabis Banking Reform Bill for First Time The U.S. Senate Committee on […]
In time for 4/20, the House of Representatives voted for the SAFE Banking Act, which would protect financial institutions providing cannabis banking. SAFE Banking Passes Members of Congress approved H.R. 1996, the Secure and Fair Enforcement (SAFE) Banking Act by 321-101. The bill would make it safe and legal for financial institutions to engage in […]
Senate Democratic leaders have announced they will craft a comprehensive cannabis reform legalization bill to push through the United States Senate. Senators Chuck Schumer (D-NY), Cory Booker (D-NJ), and Ron Wyden (D-OR) issued a joint statement regarding comprehensive cannabis reform in the 117th Congress. Every “Congress” lasts two years, with the full House up for […]
President Joe Biden looks like he will be a more progressive president than Donald Trump as his nominees have expressed support for cannabis reform. In his inaugural speech as the 46th President of the United States of America, he called for unity and racial justice. “The dream of justice deferred will be a dream no […]
With the economy in turmoil due to COVID-19, the issue of New Jersey cannabis banking has become even more relevant since the congressional passage of the SAFE Banking Act would boost the economy. A bipartisan coalition of bankers and state officials favors protecting banks from penalties for doing business with cannabis companies to stimulate the […]
House Democrats led by Speaker Nancy Pelosi (D-CA) unveiled a new stimulus bill this week that includes cannabis banking reform. Cannabis Banking Reform Details The language is similar to the SAFE Act, which passed the House last fall by an overwhelming margin. But it has been stalled due to staunch opposition from Senate Banking Chair […]
Due to the economic downturn caused by the global pandemic, many cannabis industry advocates are seeking aid. They were excluded from the CARES Act. Cannabis industry aid has not come because cannabis is a Schedule I drug and illegal substance. Businesses that deal directly with cannabis production and sale, along with many ancillaries, are also […]
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Dan Ulloa
