The SAFE Banking Act of 2019 passes the House Financial Services Committee

What is one of the biggest problems facing cannabis businesses today? What to do with the money. Currently, most banks are reluctant to service cannabis businesses as such activity could threaten the bank’s charter since marijuana remains a Schedule I substance federally. Cannabis businesses cannot generally use credit cards or electronic funds transfers. Cash, which…

Bankruptcy Law Lacks Remedies for Businesses Operating in Violation of the Controlled Substances Act

Entrepreneurs start new businesses knowing they are taking certain financial risks. They recognize that their businesses may fail. Entrepreneurs also know that they can likely obtain some value from the sale, reorganization or liquidation of the failed business.  The Bankruptcy Code facilitates the ability of companies to recover the value from the assets and business…