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Cannabis Law Blog

Posts by Elizabeth A. Khalil

Cannabis Law Blog

News and analysis focusing on the full spectrum of cannabis-related issues facing businesses, investors, financial institutions and all levels of government throughout the United States


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Showing 3 posts by Elizabeth A. Khalil.

Federal Update: Cole Rescinded; Rohrabacher-Blumenauer Remains in Effect, For Now

With the stroke of a pen—and a keystroke—Attorney General Jeff Sessions has eliminated longstanding guidance regarding federal law enforcement priorities specific to the state-legal marijuana sector. This move throws even more uncertainty into a sector that already had plenty of uncertainty to spare. Even as more and more states act to legalize medical and/or recreational use, federal law remains unambiguous: marijuana activity violates federal law—potentially multiple federal laws. Now, Sessions’ action raises the question of whether federal authorities will more aggressively pursue investigations and prosecutions of state-legal marijuana activity. Read More ›

Fourth Corner Credit Union Obtains Pyrrhic Victory for Marijuana Banking

The long-awaited  Tenth Circuit Court of Appeals decision in the case of Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City was issued this week. In short: the would-be credit union, formed to serve participants in the state-legal marijuana sector, lives to fight another day—but minus its original purpose for existing. Read More ›

Congress’ Latest Effort to Unstick Marijuana Banking

Last week, the Senate Appropriations Committee adopted an amendment to the FY 2017 Financial Services and General Government Appropriations bill that aims to help resolve the problems that marijuana-related businesses have faced in attempting to obtain banking services. The bill would prohibit the federal government from using funds appropriated under the bill to “prohibit or penalize” a financial institution that provides banking services to a marijuana-related business in a state where such activity is legal. The amendment, sponsored by Senator Jeff Merkley (D-Oregon), passed the committee by a 16-14 vote, and the entire bill will now head to the Senate floor for consideration. Read More ›