Insights on Cannabis Banking

Partner Aram Ordubegian, chair of the firm’s Cannabis Industry Group, was quoted on the real estate challenges facing the cannabis industry.

Though the House of Representatives passed the Secure and Fair Enforcing Banking Act (“SAFE Banking Act” or “the Act”) on April 19, 2021, the bill was dropped from the final version of the larger China COMPETES ACT last week after it failed to muster the requisite support in the Senate.

Now Financial Businesses can provide their services to licensed cannabis businesses without penalty under California law.