Tax,
Government,
Banking,
Administrative/Regulatory
May 9, 2019
Will the SAFE Banking Act persuade banks to open their doors to cannabis clients?
“Cash only, please” signs are prevalent in California marijuana dispensaries and businesses. It is estimated to be a North American industry worth $16 billion, yet much of California’s share of the marijuana bounty is exchanged, stored and shuttled around in cold, hard cash under armed guard.
Joshua Schneiderman
Partner
Snell & Wilmer LLP
Email: jschneiderman@swlaw.com
Josh is a member of the firm's corporate and securities group. He advises clients on a wide range of transactional matters, including mergers and acquisitions, joint ventures and public and private offerings of debt and equity securities. Josh is also a leader in the firm's cannabis practice.
Helen Goldstein
Snell and WilmerHelen has an American law degree from Arizona State University and an English law degree from The University of Nottingham. She currently works with both the Corporate and Securities group and Employee Benefits group at Snell and Wilmer while awaiting admission to the Arizona State Bar.
"Cash only, please" signs are prevalent in California marijuana dispensaries and businesses. It is estimated to be a North American industry worth $16 billion, yet much of California's share of the marijuana bounty is exchanged, stored and shuttled around in cold, hard cash under armed guard.
Even though California legalized marijuana back in 2016, financial institutions routinely refuse to bank the cannabis industry. Marijuana remai...
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