Senate Bill Would Allow Cannabis Industry Access to Banks

Yesterday’s News – July 10, 2015




When will the cannabis industry have access to banks?

Though it’s hard to make progress in Washington when cannabis is still taboo among the “old guard,” the Senate delegations from Oregon and Colorado are pushing the conversation. The bipartisan group introduced a bill that would give recreational cannabis businesses access to legitimate banking services and prohibit the federal government from penalizing banks that work with the marijuana industry. Most companies in this sector currently operate on a cash-only basis, which sets them up for numerous risks and complicates day-to-day matters like paying taxes. Politico has more:



Cannabis church sues over marijuana laws

The Cannaterians and their fearless leader, Bill Levin, are suing the city of Indianapolis and the state of Indiana for violating their religious freedom. The First Church of Cannabis claims that the illegality of possessing and using marijuana is an infringement on their right to practice their religious beliefs, which include using the plant as a sacrament, and they’re “taking legal action…to ensure love has no barriers in our land.” Read more on ABC News:



Pot plants seized from tribal lands

Multiple law enforcement agencies raided two large-scale commercial cannabis cultivation facilities on American Indian lands in Modoc County, California, and seized more than 12,000 plants and over 100 pounds of marijuana. The grows, which are allegedly operated in conjunction with a multi-billion dollar Canadian tobacco company, were capable of producing upwards of 60,000 plants and violated local, state, and federal law. Though the Department of Justice issued a memo back in December that allows for regulated cultivation and sale of cannabis on tribal lands, the reservations in question appear to have no such regulatory system in place, and representatives confirm the marijuana was headed elsewhere to be sold, which is also a no-no. The Sacramento Bee has details:



Lots of support for new social cannabis initiative

A recent poll shows the majority of Denver voters approve of the Limited Social Marijuana Consumption Initiative, which would allow for discreet cannabis use (likely in the form of vaporizing outdoors) at locations with over-21 policies in place, such as bars and music venues. Some 56 percent of citizens said they strongly support or somewhat support the measure. Advocates must collect 5000 signatures to ensure the question makes it on Denver’s November ballot. For more information, check The Denver Post:



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