cannabis – IN THE THE TREES | Marijuana Provider in Bozeman Montana

Marijuana Safe Banking Act – 2024 Update

Janet Shapan — Mon, 22 Jul 2024 04:51:32 +0000

Marijuana Safe Banking Act – 2024 Update

UPDATE – April 2024: ABA Statement: SAFER Banking Act Still Moving Forward, Even if the Current Administration Moves to Reclassify Cannabis

“While ABA takes no position on the legalization of cannabis, it’s important for policymakers to know that any potential decision to reclassify cannabis has no bearing on the legal issues around banking it. Cannabis would still be largely illegal under federal law, and that is a line many banks in this country will not cross. The solution is the bipartisan SAFER Banking Act, which would allow banks to provide services to the cannabis industry in those states where it’s now legal. Passing that legislation in Congress would address the ongoing legal limbo around cannabis banking, while enhancing public safety, tax collection and transparency.”

Reintroduced in House & Senate (04/26/2023)

Senators Jeff Merkley (D) and Steve Daines (R), and Representatives Dave Joyce (R) and Earl Blumenauer (D) were the lead sponsors.[27][28] The Senate Banking Committee chair, Sherrod Brown, said the bill could get a hearing in the first half of May, 2023,[29] and the first Senate hearing was held on May 11.[30][31] The bill was scheduled for markup by the Senate Banking Committee in June.

SUMMARY OF THE SAFE BANKING ACT

This bill is designed to prohibit a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business. Prohibited penalties include: 1. terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate cannabis-related business and 2. prohibiting or otherwise discouraging a depository institution from offering financial services to such a business.

It also states that proceeds from a transaction involving activities of a legitimate cannabis-related business are not considered proceeds from unlawful activity..

In addition, under federal law a depository institution could not be held liable or subject to asset forfeiture for providing a loan or other financial services to a legitimate cannabis-related business.

The bill provides that a federal banking agency may not request or order a depository institution to terminate a customer account unless (1) the agency has a valid reason for doing so, and (2) that reason is not based solely on reputation risk. Valid reasons for terminating an account include threats to national security and involvement in terrorist financing, including state sponsorship of terrorism.

Finally, the bill decreases the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19 trillion in deposits and extend $12.4 trillion in loans.

Finally, the bill decreases the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

Undeniable Therapeutic Effects of Cannabis and Cannabinoids

Janet Shapan — Sat, 01 Jul 2023 02:18:07 +0000

Undeniable Therapeutic Effects of Cannabis and Cannabinoids

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National Academies of Sciences, Engineering, and Medicine; Health and Medicine Division; Board on Population Health and Public Health Practice; Committee on the Health Effects of Marijuana: An Evidence Review and Research Agenda.
Washington (DC): National Academies Press (US)

STUDY HIGHLIGHTS – The Health Effects of Cannabis and Cannabinoids: The Current State of Evidence and Recommendations for Research.

Below are the conditions that demonstrated either substantial or limited evidence that cannabis is an effective treatment. The balance of the health areas mentioned in this stude were stated to be inconclusive due to incomplete or studies that showed no efficacy or that were in conclusive to cannabis benefits.

In adults with chemotherapy-induced nausea and vomiting, oral cannabinoids are effective antiemetics.
In adults with chronic pain, patients who were treated with cannabis or cannabinoids are more likely to experience a clinically significant reduction in pain symptoms.
In adults with multiple sclerosis (MS)-related spasticity, short-term use of oral cannabinoids improves patient-reported spasticity symptoms.
For these conditions the effects of cannabinoids are modest; for all other conditions evaluated there is inadequate information to assess their effects.

CHRONIC PAIN
CONCLUSION
4-1 There is substantial evidence that cannabis is an effective treatment for chronic pain in adults.
SPASTICITY ASSOCIATED WITH MULTIPLE SCLEROSIS OR SPINAL CORD INJURY
CONCLUSION:
4-7(a) There is substantial evidence that oral cannabinoids are an effective treatment for improving patient-reported multiple sclerosis spasticity symptoms, but limited evidence for an effect on clinician-measured spasticity.
4-7(b) There is insufficient evidence to support or refute the conclusion that cannabinoids are an effective treatment for spasticity in patients with paralysis due to spinal cord injury.
TOURETTE SYNDROME
CONCLUSION
4-8 There is limited evidence that THC capsules are an effective treatment for improving symptoms of Tourette syndrome.
TRAUMATIC BRAIN INJURY/INTRACRANIAL HEMORRHAGE
CONCLUSION
4-15 There is limited evidence of a statistical association between cannabinoids and better outcomes (i.e., mortality, disability) after a traumatic brain injury or intracranial hemorrhage.
ANXIETY
CONCLUSION
4-17 There is limited evidence that cannabidiol is an effective treatment for the improvement of anxiety symptoms, as assessed by a public speaking test, in individuals with social anxiety disorders.
SLEEP DISORDERS
CONCLUSION
4-19 There is moderate evidence that cannabinoids, primarily nabiximols, are an effective treatment to improve short-term sleep outcomes in individuals with sleep disturbance associated with obstructive sleep apnea syndrome, fibromyalgia, chronic pain, and multiple sclerosis.
POSTTRAUMATIC STRESS DISORDER
CONCLUSION
4-20 There is limited evidence (a single, small fair-quality trial) that nabilone is effective for improving symptoms of posttraumatic stress disorder.

The renewed interest in the therapeutic effects of cannabis emanates from the movement that began 20 years ago to make cannabis available as a medicine to patients with a variety of conditions. It was in 1996 that Arizona and California first passed medicinal cannabis legislation, although Arizona later rescinded the approval, so it would be California that paved the way. At the time that this report was written, in 2016, 28 states and the District of Columbia had legalized the medical use of cannabis; 8 states had legalized both medical and recreational use of cannabis; and another 16 states had allowed limited access to low-THC/high-CBD products (i.e., products with low levels of THC and high levels of CBD) A recent national survey showed that among current adult users, 10.5 percent reported using cannabis solely for medical purposes, and 46.6 percent reported a mixed medical/recreational use. Of the states that allow for some access to cannabis compounds, cancer, HIV/AIDS, multiple sclerosis, glaucoma, seizures/epilepsy, and pain are among the most recognized qualifying ailments. There are certain states that provide more flexibility than others and that allow the use of medical cannabis for the treatment of any illness for which the drug provides relief for the individual. Given the steady liberalization of cannabis laws, the numbers of these states are likely to increase and therefore support the efforts to clarify the potential therapeutic benefits of medical cannabis on various health outcomes.

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