In the first in what are anticipated to be multiple Congressional hearings to address the federal prohibition and criminalization of marijuana, the House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595.
A.1617, the Marijuana Regulation and Taxation Act (MRTA), has been re-introduced this legislative session. The bill would legalize the adult possession, use, and regulated sale of marijuana.
Chicago NORML is very excited to participate in the Minority Cannabis Business Association (MCBA) summit in Washington D.C. and playing a leading role in drafting policy agendas to ensure participation of people of color in the cannabis industry.
In news that bodes well for the future of cannabis legalization in the state of New York, both chambers of the state legislature have included legalization language in their annual budget proposals.
The state-licensed cannabis industry gained over 64,000 new employees in 2018, and now employs over 200,000 full-time workers, according to data compiled by Whitney Economics and the online content provider Leafly.com.
As the tentacles of the federal policy of cannabis prohibition run deep into nearly every sector of American public policy, a new voice emerged to call for clarity regarding state-legal cannabis marketplaces: Federal Reserve Chair Jerome Powell.
The House Financial Services subcommittee on Consumer Protection and Financial Institutions held a hearing Wednesday to address the lack of access to basic banking services by state-legal marijuana businesses.
Currently, state-licensed marijuana businesses face a web of conflicting regulations. Specifically, federal prohibitions largely prohibit these businesses from partnering with financial institutions, processing credit cards, and taking standard business deductions.