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How Does Legal Weed Affect Banking Activity? News Study Has Answers

How Does Legal Weed Affect Banking Activity? News Study Has Answers

A new study examined how the legalization of cannabis at the state level affects deposits and lending activity of banks in legalizing states. After analyzing bank data over the course of several years, researchers have concluded that recreational cannabis legalization caused a spike in deposits and lending. Researchers collected data from more than 150,000 regulatory filings from banks across the country in states with legal marijuana between 2011 to 2016, finding a significant increase in deposits and lending after recreational cannabis was legalized. They found that in states with legal cannabis, bank deposits increased by 3% or 4% while bank lending increased from 6% to 8%, a small yet significant change. “We attribute this finding to either limited concern about the perceived riskiness of deposits surrounding cannabis legalization, or optimism that policies would be adapted to limit banks’ risks from regulatory uncertainty,” wrote the study’s authors.

Maria Loreto, The Fresh Toast, 01/25/2022 11:11:00

Open article: https://thefreshtoast.com/news/how-does-legal-weed-affect-banking-activity-news-study-has-answers/#utm_source=rss&utm_medium=rss&utm_campaign=how-does-legal-weed-affect-banking-activity-news-study-has-answers

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South Dakota: House Lawmakers Move to Repeal Citizen-Initiated Home Cultivation Rights

South Dakota: House Lawmakers Move to Repeal Citizen-Initiated Home Cultivation Rights

A majority of House lawmakers have advanced legislation, HB 1004, to repeal provisions from the state’s voter-approved medical cannabis law that permit qualified patients to home-cultivate personal use quantities of cannabis. House members decided by a vote of 41 to 29 to advance the legislation to the Senate for further consideration. The vote is simply the latest of many actions taken by lawmakers to undue voters’ actions on Election Day when they approved a pair of ballot initiatives legalizing marijuana for both medical and adult-use purposes. Following a legal challenge spearheaded by Republican Gov. Kristi Noem, justices on the state’s Supreme Court struck down the adult-use legalization measure as unconstitutional. The Governor’s office did not similarly challenge the medical marijuana vote. Nonetheless, lawmakers have made several efforts to weaken the voter-approved measure. Last year, House lawmakers voted to delay the law’s implementation; however, that effort failed when House and Senate lawmakers failed to come to an agreement on conflicting provisions in the bill. Then in September, a Study Committee recommended that legislators move to eliminate language from the law that permits patients to grow up to three marijuana plants.

NORML, 01/24/2022 19:00:00

Open article: https://norml.org/blog/2022/01/25/south-dakota-house-lawmakers-move-to-repeal-citizen-initiated-home-cultivation-rights/

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Thailand becomes first country in Asia to decriminalize marijuana

Thailand becomes first country in Asia to decriminalize marijuana

Thailand on Tuesday became the first country in Asia to approve the de facto decriminalization of marijuana, though authorities have left a grey area around its recreational use. Health Minister Anutin Charnvirakul announced that the Narcotics Control Board had approved the dropping of cannabis from the ministry’s list of controlled drugs. The delisting by the ministry’s Food and Drug Administration will now need to be formally signed by the health minister and enters into effect 120 days after its publication in the government gazette. It follows the removal of cannabis — a plant species to which both marijuana and hemp belong — last month from the list of illegal drugs under Thailand’s Narcotics Law. Police and lawyers contacted by The Associated Press said it was unclear if possession of marijuana would no longer be an offense subject to arrest. A tangle of related laws means that production and possession of marijuana remain regulated for the time being, leaving the legal status of recreational marijuana use in a grey area.

420 Intel – Marijuana Industry News, 01/25/2022 19:00:00

Open article: https://420intel.com/articles/2022/01/26/thailand-becomes-first-country-asia-decriminalize-marijuana

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Wisconsin Senate Republicans vote against recreational cannabis

Wisconsin Senate Republicans vote against recreational cannabis

Republicans in the Wisconsin Senate stopped an effort by Sen. Melissa Agard (D-Madison) to force a vote on legalizing the recreational use of cannabis. The Senate took up a bill Tuesday that would increase penalties for a person who uses a butane torch to extract resin from a cannabis plant. Agard introduced an amendment to the bill that, instead of making penalties harsher, would have completely legalized all uses of cannabis. Agard said she was introducing the amendment because if the goal of the bill is to increase public safety, then increased criminalization is not the direction to go — especially since most of Wisconsin’s neighboring states have legalized either medicinal or recreational use. Republicans in the Senate killed Agard’s effort by voting that the amendment was out of order and not “germane” to the initial bill. The original bill, without Agard’s amendment, passed on a 20-12 party-line vote.

420 Intel – Marijuana Industry News, 01/25/2022 19:00:00

Open article: https://420intel.com/articles/2022/01/26/wisconsin-senate-republicans-vote-against-recreational-cannabis

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Flaws in federal cannabis bills threaten the legal market

Flaws in federal cannabis bills threaten the legal market

Flaws in proposed federal marijuana legislation threaten the legal cannabis market, especially failure to pause the Dormant Commerce Clause, say Shaleen Title, the distinguished cannabis policy practitioner in residence at the Ohio State University Drug Enforcement and Policy Center, and Andrew Kline, who co-leads the cannabis practice at Perkins Coie. They suggest some changes. Cannabis is gaining acceptance, with more than three dozen states and territories having legalized the plant in some form. Cannabis reform has widespread support nationally, with a recent Pew Research Center poll showing that 91% of Americans support legal recreational or medical marijuana use. And in response to popular demand, states are passing increasingly robust social justice policies providing equitable ownership opportunities, with New York Gov. Kathy Hochul (D) recently announcing a new $200 million fund to promote diversity among licensees in her state’s emerging legal marijuana industry.

420 Intel – Marijuana Industry News, 01/24/2022 19:00:00

Open article: https://420intel.com/articles/2022/01/25/flaws-federal-cannabis-bills-threaten-legal-market

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Maine Medical Cannabis Task Force Pushes Back on Track-and-Trace Requirement

Maine Medical Cannabis Task Force Pushes Back on Track-and-Trace Requirement

A medical cannabis task force has delivered its promised recommendations to Maine’s Office of Marijuana Policy: recommendations that are meant to assess the market’s current framework and suggest a helpful, accessible path forward. One major target of the task force’s work over the past few months? Seed-to-sale tracking. And, long story short, the task force has come out against the mandate of such a system. According to the Portland Press Herald, “the group soundly rejected the policy office’s previously proposed requirement that the medical market adopt a ‘track-and-trace’ product tracking system.” This has been a point of contention between Maine’s caregiver-led medical cannabis space and the policymakers charged with developing robust regulations to match the broader U.S. cannabis industry’s evolution.  The task force—which includes cannabis business stakeholders and patients—concluded that the state’s tracking system should be required solely for licensed dispensaries. Caregivers, of whom the state counts around 3,000, would be given voluntary standing with the system, according to the task force’s proposal. Right now, the track-and-trace system is in place for the state’s relatively new adult-use market.

Posted Melissa Schiller, Cannabis Business Times, 01/26/2022 10:49:00

Open article: http://www.cannabisbusinesstimes.com/article/maine-medical-cannabis-task-force-track-trace-requirement

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