SAFE Banking

The passage of the bipartisan banking bill has sent some Senate members opposed to the legislation into their corners as Senate Majority Leader Chuck Schumer (D-NY) pledges to bring the bill to the floor “very soon.” It also sent cannabis stocks surging, but they’ve since ...

Could our worst fears be true, that SAFE will be DOA again on the floor of the Senate? Welcome to Trade to Black, and in this podcast, lead financial writer Benjamin Smith and millennial entrepreneur Anthony Varrell join host Shadd Dales to discuss SAFE banking, the markup vote, and Section 10....

At Thursday’s Senate Finance Committee hearing, Colorado Senator Michael Bennet (D) asked Treasury Secretary Janet Yellen about the ongoing lack of banking and financial services available to the cannabis industry. Bennet aptly referred to cannabis as more stable than cryptocurrency,...

Here goes another trying year for the cannabis industry. On the federal level, things happened (Biden’s pardons and marijuana research bill), but still, advocates contend they were not enough (no SAFE Banking Act, no legalization). These events profoundly...

The Department of Justice issued a memo to congressional leaders regarding the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) indicating its concerns about the bill. According to the department, the language in the initial House bill “could significantly...

A new survey conducted by Morning Consult on behalf of the American Bankers Association (ABA) confirmed that a vast majority of U.S. adults support cannabis banking and urge Congress to pass legislation allowing cannabis businesses to access banking services in states where marijuana is legal...

The National Association of State Treasurers (NAST) reaffirmed its support for the SAFE Banking Act, which would grant marijuana companies access to traditional banking services. Though NAST does not take a position on cannabis legalization, the bipartisan treasurers support...

A new poll conducted by the Independent Community Bankers of America (ICBA), which creates and promotes an environment where community banks flourish, found that “two-thirds of voters (65%) support allowing cannabis-related businesses to have access to banking services in states...

With violent robberies at cannabis dispensaries on the rise across the country and the macabre fact that handguns and automatic weapons are easier to buy than beer, marijuana retail workers are sitting ducks. Washington state alone has reported more than 80 armed robberies, with...

Despite projections pointing towards short-term capital market struggles fueled by stalled reform, most in the cannabis industry remain optimistic that the market and regulations will align to provide a beneficial long-term. Short-term Market and Regulatory Struggles Don’t Dampen Optimism...

The cannabis industry has grown exponentially over the last year. Moreover, the shift in political preferences toward cannabis legalization is evident more than ever, now that Democrats are holding the gavels. Still, there's anxiety among investors, says ETF manager Tim Seymour (see video...

By Andrew Comer, of Fortis Law Partners. The only realistic scenario for success may be to strip away its banking protections for marijuana interests and apply them only to hemp. Cannabis proponents clearly had a reason to celebrate when the U.S. House recently approved the landmark SAFE Banking...

Fintech company Promontory Interfinancial Network recently conducted a survey of bankers in the U.S. Results showed that 82 percent of respondents think the federal government should allow them to serve plant-touching cannabis businesses. Such legislation, dubbed SAFE Banking Act is in the works...