We recently wrote an article for Thomson Reuters’ Practical Law outlining the state of play for the financial services sector’s relationship with the U.S. cannabis sector.  Our article summarizes the dilemma arising from the widening gulf between static federal prohibitions and changing state laws.  We consider and reject a number
Continue Reading Practical Law: Financial Services and the US Cannabis Sector

Cannabis legislation for banking is now getting more serious attention, as it should. On Wednesday, February 13, the Consumer Protection and Financial Institutions Subcommittee of the House Committee on Financial Services will convene a hearing entitled, “Challenges and Solutions:  Access to Banking Services for Cannabis-Related Businesses.” The hearing follows Chairwoman
Continue Reading Proposed U.S. Federal Cannabis Legislation: Briefing on the SAFE Act and STATES Act

The banking sector should pay close attention to the recent bipartisan bill supporting marijuana legal reform (the “Strengthening the Tenth Amendment Through Entrusting States Act” or the “STATES Act”) given the increasing difficulty current law creates even for those banks that are deliberately avoiding the cannabis sector.  Post mid-term elections,
Continue Reading Bipartisan Marijuana Bill Would Permit Banking Legal Cannabis Businesses