Bank Of America, NRA, And Mastercard Are Lobbying On Marijuana Banking October 23, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments Bank of America, the National Rifle Association, and Mastercard are among the entities that are currently lobbying on the marijuana banking act. As first reported in an article published on Cannabis Wire on October 20, Bank of America, the National Rifle Associaton,… Read More→
FundCanna CEO Adam Stettner Sees a Resilient Cannabis Industry October 17, 2023 Tom Hymes Banking, Finance & Real Estate, News & Insights, Spotlight 0 Comments A lot has happened (or almost happened) since CBE profiled FundCanna in January, including an HHS recommendation to reschedule cannabis and the SAFER Banking Act advancing out of the Senate Banking Committee. Of course, during that same period, the cost… Read More→
Cannabis Leasing in Competitive License Jurisdictions September 27, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments By Griffen Thorne, Attorney at Harris Bricken Cannabis leasing is incredibly complicated for both lessors and lessees. But things can get a lot more complicated in competitive license jurisdictions. I’ve worked with both lessors and lessee-applicants in competitive licensing jurisdictions, and today want… Read More→
How a cannabis bill stopped being about weed September 27, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments Republican support for the cannabis banking bill is dependent on language preventing a revival of the Obama-era “Operation Choke Point.” Republicans were on the cusp of helping Democrats pass a landmark cannabis bill. Now a GOP feud over guns, oil… Read More→
US Senate looks at cannabis banking reform, but industry says it’s not enough September 27, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments A U.S. Senate committee on Wednesday will vote on whether to advance a bill that would allow the legal cannabis industry access to banking, an option that industry lobbyists have long sought. But even before the Senate Banking Committee takes… Read More→
Effectively Navigating the Cannabis Real Estate Market in 2023 September 25, 2023 John Satter Banking, Finance & Real Estate 0 Comments By John C. Satter, MAI In this article, we address important considerations for those involved in acquiring, selling or leasing real estate associated with the evolving U.S. cannabis market. The U.S. cannabis real estate market has experienced growth and transformation… Read More→
From SAFE to SAFER, New Banking Bill Stresses Safety September 21, 2023 Tom Hymes Banking, Finance & Real Estate, News & Insights 0 Comments With a presidential election year looming, the politics of pot is once again front and center in Washington, D.C., but this time there seems to be a greater probability than ever before that something significant will be accomplished. Yesterday, a… Read More→
How Important is the SAFE Banking Act, Anyway? September 18, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments By Vince Sliwoski, Attorney at Harris Bricken I’m pretty sure that more ink has been spilled on the Secure and Fair Enforcement Act (“SAFE Banking”), than any other proposed cannabis law. It just won’t pass and it just won’t die.… Read More→
Senators push to pass cannabis banking bill after marijuana rescheduling September 14, 2023 AggregatedNews Banking, Finance & Real Estate, Federal 0 Comments A bipartisan coalition of senators behind a cannabis banking bill is pushing for a markup and working to clear key hurdles on both sides of the aisle to lock down support. As advocates work to drum up momentum for the… Read More→
ESOPs provide a substantial and game changing edge for cannabis operators September 6, 2023 Dave McManus Banking, Finance & Real Estate 0 Comments By David McManus and Darren Gleeman Cannabis operators have plenty of challenges keeping pace with rampant industry growth. Rising competition, scaling labor, pricing pressure, and of course regulatory compliance create a web of issues that call for creative strategic thinking.… Read More→
Detroit’s not so red-hot cannabis real estate market September 6, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments The once-fiery real estate market for cannabis businesses in Detroit now appears to be stagnating. Why it matters: The local market's challenges with low product prices and narrow margins for profitability have also been shown via major financial failures like pot company Skymint, which went into… Read More→
Oregon Governor Vetoes Marijuana State Bank Bill August 18, 2023 AggregatedNews Banking, Finance & Real Estate, Oregon 0 Comments By Jesse Mondry, Attorney at Harris Bricken Oregon’s governor recently vetoed an effort to create a state bank for marijuana businesses, in another blow to the struggling industry. The lack of consistent, equitable access to banking has been recurring issue… Read More→
SAFE Banking: Are we there yet? August 16, 2023 Joe Silvia Banking, Finance & Real Estate 0 Comments By Joseph E. Silvia Businesses of all kinds depend on financial services provided by banks, credit unions, and other depository institutions to operate and grow their businesses. Cannabis related businesses are no different. Even as a majority of states have… Read More→
Dama Financial CEO Patrick O’Boyle on Building an End-to-End Solution August 8, 2023 Tom Hymes Banking, Finance & Real Estate, News & Insights 0 Comments San Bruno, California-based Dama Financial has provided essential banking services to the cannabis industry since it was founded in 2016. As the industry has developed, however, the company realized that it needed to become more of a full-service financial provider,… Read More→
Cannabis Real Estate: Leasing v. Buying August 2, 2023 AggregatedNews Banking, Finance & Real Estate 0 Comments By Griffen Thorne, Attorney @ Harris/Bricken One of the most important business decisions cannabis businesses need to make is whether to lease or buy real estate. I have worked on too many cannabis real estate transactions to count. And in… Read More→