A stronger-than-expected 321-103 vote in the House in favor of the Secure and Fair Enforcement Banking Act, which allows banks to service the cannabis industry, sets the stage for likely passage in the Senate, according to analysts. The push for …
The U.S. House advanced legislation designed to let banks do business with cannabis companies in states that permit marijuana sales, a step that some supporters see as helping to pave the way to nationwide legalization. The Secure and Fair Enforcement …
A House committee has advanced a bill to protect financial institutions from criminal prosecution for providing services to legal marijuana businesses. The House Financial Services Committee voted 45 to 15 in favor of the SAFE Banking Act, which promises to …
Republican and Democratic senators on Wednesday renewed their drive to make banking easier for marijuana-based businesses in those U.S. states where the drug is legal, undeterred by signals from the Trump administration about maintaining tough marijuana restrictions nationally. The eight …
Lloyd’s of London has stopped insuring marijuana industry firms of any kind due to conflicts between federal and state laws over their legality. In a May 29 memo addressed “Dear Colleague,” obtained by Insurance Journal, Lloyd’s Director of Performance Management …
The U.S. government has opened a new line of business for America’s biggest banks, and for once they don’t want it. Little wonder: it’s cash from legalized marijuana. The financial-crimes arm of the Treasury Department is making it easier to …
