USA Wrap: Banking & Finance, Business Publishing, Colorado, Georgia,Michigan, Ohio, Washington

BANKING & FINANCE

Treasury Secretary Tells Committee He Supports Canna-Business Banking Access

Cannabis credit union hit with wrongful termination lawsuit that claims CEO used cocaine

Fourth Corner Credit Union gets conditional approval from Federal Reserve for marijuana-related banking

 

BUSINESS PUBLISHING

Title: Cannabis industry analytics firm New Frontier Data buys Hemp Business Journal

Author: The Cannabist

Date: 7 February 2018

URL: https://www.thecannabist.co/2018/02/07/new-frontier-data-hemp-business-journal/98366/

Extract:

Cannabis data clearinghouse New Frontier Data has made a move to bring hemp into its fold with the acquisition of Denver-based Hemp Business Journal, the firms are expected to announce Wednesday.

Financial terms of the transaction between the privately held companies were not immediately disclosed. The deal was finalized late last week, and Hemp Business Journal’s operations are being integrated into the Denver offices of the Washington, D.C.-based New Frontier Data, officials said.

The combination carries little operational overlap, executives of the companies told The Cannabist.

“For (New Frontier Data) wanting to be the global nexus of unbiased cannabis reporting, the hemp portion of it was still not really fleshed out in the U.S. and certainly a lot was happening internationally,” said Giadha Aguirre de Carcer, New Frontier Data’s founder and chief executive officer. “And so we knew, since (first meeting Hemp Business Journal founder Sean Murphy in) 2015, that we needed to insert ourselves and figure out a way to cover it in a meaningful manner.”

The Press Release

https://globenewswire.com/news-release/2018/02/07/1335593/0/en/New-Frontier-Data-Acquires-Hemp-Business-Journal.html

 

COLORADO

Colorado Might Be Dismissing Non-Violent Cannabis Convictions

 

 

GEORGIA

Adult-Use Cannabis Bill Introduced in Georgia

MICHIGAN

Title: Cannabis Businesses Invest In The Midwest As Michigan’s New Medical Marijuana Laws Take Effect

Author: Bezinga

Date: 6 February 2018

URL:  https://www.benzinga.com/trading-ideas/long-ideas/18/02/11135695/cannabis-businesses-invest-in-the-midwest-as-michigans-new-m

Extract:

If recreational marijuana were legalized in Michigan, the regulated market “will likely serve as a catalyst for other states in the Midwest to rethink existing laws and follow suit with full legalization,” Matt Karnes, founder and managing partner at GreenWave Advisors, told Benzinga.

 

OHIO

Title: Meetings

Author: Ohio Medical Marijuana Control Program

Date: 7 February

URL: https://medicalmarijuana.ohio.gov/advisory-committee

Extract: The Medical Marijuana Advisory Committee will hold a meeting on February 8, 2018. Click here for a copy of the agenda.

WASHINGTON

Retailers May Accept Product Labeled on Manifests with New Leaf Global ID Numbers WSLCB wants Retail licensees to know they can accept product from Producer/Processors when the Manifest has new Leaf Global ID numbers. The new Leaf Global ID numbers on manifests will link to Contingency ID numbers or Old Traceability ID numbers from the legacy system used prior to the Contingency Period. Relabeling Your Physical Inventory Is Not Required Some individuals/businesses have encountered an unforeseen struggle while attempting to cut over their current plants and current inventory into the new Leaf traceability system. Licensees have raised concern about products not being physically labeled with the new Leaf ID numbers. You don’t need to relabel your entire physical inventory. When product is electronically entered into the Leaf system, it will have the old contingency number, or possibly even the legacy system identification number physically on it.  We do not expect licensees to relabel all of their product/plants with new numbers.  Instead, it  expected that new numbers are physically attached as soon as actions such as conversions, harvest, or lotting are made. Licensees may transfer and receive product with the contingency or historic numbers still physically attached to the product.  For example, retailers do not need to physically relabel their inventory, and processors sending  packaged end product to retailers do not need to physically relabel all their product prior to sending it. It is expected that the historic IDs are linked to the new Leaf IDs by the third party software system or licensee entering the Contingency ID or Old Traceability ID into the “Contingency / Old Traceability” field into Leaf Data Systems when inventory is uploaded. Because this only applies to product that is being uploaded as initial Leaf inventory, this exception will only apply to those items that existed prior to implementation of Leaf Data Systems.