Blog Post

SAFE Banking Act - Behind the scenes of cannabis

Jun 04, 2020

Cannabis is the fastest growing sector of the U.S. economy

The U.S. House passed the SAFE Banking Act (Secure and Fair Enforcement) in 2019 and now heads to the Senate tucked in the new Corona Virus Relief Bill. Amidst the 1800 pages of House Speaker Nancy Pelosi’s $3 Trillion relief bill for the pandemic, page 1066 includes the SAFE Banking Act. If passed, cannabis related businesses would be allowed to work freely with banks for operations, commercial lending and prevent any federal banking regulator from intervening or fining the banks. 

“Times are changing drastically due to cannabis deemed as essential during COVID19,” said Catherine M. Zito, CEO of Cannabis Business Solutions, Inc. "Even if it doesn’t pass in the Senate, the cannabis policy reform and industry as a whole moved forward significantly in just three months." 

“We’re being patient and have a list of over 200 companies just waiting for the green light,” says Zito. "This is not a time to sit back and wait, but a time to seize an opportunity that's inevitable. Our company provides payment processing and banking solutions for medical cannabis dispensaries, recreation adult-use retailers, industrial hemp and CBD companies. We currently offer a cashless solution for medical dispensaries and recreation retailers in six states, however many of our clients are preparing to make application for credit and debit card processing when the time is right."

Passing the SAFE Banking Act could potentially prevent cross contamination through the exchange of cash, terminal keypads, ATM machines and close proximity between patients, customers and sales associates. Similar to pharmacies and grocery stores, drive-thru's and delivery services have become the norm in most states.

“The SAFE Banking Act would not only provide financial safeguards to the cannabis industry, but would actually increase the tax base and boost job growth industry wide,” said Ted M. Beinhorn Managing Partner of Expressway Business Loans. “So many cannabis business owners across the country would be more transparent and willing to invest more in their own future."

Executive director of the National Cannabis Roundtable, in a public statement, said "The NCR applauds the House for acknowledging the legitimacy of cannabis businesses and especially the work of Congressman Perlmutter who has been a tireless champion for the industry and its thousands of small businesses and workers.”

"When the SAFE Banking Act passes, it’s not going to be as easy as turning on a switch," says Zito. "From our experience, it will take the banks and processors time to hire and train additional employees for application review, processing and underwriting. We're at the front of the line guiding clients through the process so when the time is right they can make a successful application."

Meanwhile, back in the House, the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act continues to make progress. "The bill would remove marijuana from the Controlled Substances Act and create several grant programs to repair some of the harms created by prohibition and foster social equity in the industry," said Senior Contributor at Forbes, Kris Krane co-founder and president of 4Front, a leading investment and operations firm in the legal cannabis industry. "These programs would be exclusively paid for through a modest excise tax on sales from cultivators to processors, while cannabis businesses would see significant tax relief, as Section 280E of the Internal Revenue Code would no longer apply to them."

With less than a year to go in this session of Congress, it’s possible that we may see passage of the SAFE Banking Act and the MORE Act. However, our work is not done. If you're an advocate or in the industry it's important that you continue to reach out to your local officials and members of Congress to support these bills.
By Catherine Zito 29 Jan, 2024
The growing hemp and cannabis business faces some tricky issues when it comes to getting paid. But don't worry! Cannabis Business Solutions offers a straight forward approach to make the application process simple and smooth. CBS helps hemp, Delta, medical and recreational cannabis and related businesses with easy and efficient payment processing, whether you're selling in stores, online or mobile. Nobody likes the stress of their credit card account or bank suddenly closing for no reason. Catherine Zito, CEO of Cannabis Business Solutions, Inc. and the organizer of the three largest U.S. hemp and cannabis networking groups with over 6,000 members says this issue happens too often. Starting a business can be overwhelming, especially with payments. But a good payment processor should handle all the complicated items, like compliancy, keeping customers data safe, and offering an alternative to cash transactions. This is crucial, as relying solely on cash can expose staff and the business to the risk of theft. A hemp or cannabis friendly bank is required before making an application for merchant credit card processing. CBS works with over 60 banks and credit unions across the country. “Our job is to find the perfect fit for each merchant and give competitive rates to make sure they make the most money,” says Catherine Zito. Banks aren't all the same, so our good relationships make it easy for businesses to find a bank and apply for merchant processing without any fees or long contracts. We're here to give special help that fits each business's needs. We strongly advise seeking out a reliable individual or company to assist you with payment processing in the ever-evolving cannabis and hemp industry. For more information or to schedule a complimentary consultation, visit CBScannabis.com .
cannabis networking event
By Catherine Zito 27 Oct, 2023
Join us for our highly anticipated 100th Ultimate Networking Party and network with 150 guests. This event is an exceptional opportunity for B2B and B2C professionals to connect with industry elites. Forge valuable connections, explore limitless possibilities, and elevate your business. Experience the vibrant atmosphere of The CURRENT Hotel, Marriott Autograph Collection with complimentary valet parking. This will be a sell-out event; secure your tickets today and gain access to this exclusive networking event.
Best CBD and Cannabis Payment Processor, Cannabis Business Solutions
03 Jul, 2023
Cannabis Business Solutions (CBS) as the superior alternative, offers merchants safe compliance, lower rates, exceptional customer service, and the freedom to switch processors at any time. CBS spends time with merchants to learn about their goals and needs including retail, ecommerce and mobile processing for hemp and cannabis businesses.
By Catherine Zito 22 Apr, 2023
Gain insights from prominent industry experts and connect with respected physicians, medical professionals, sports, attorneys, bankers, financiers, operators, and entrepreneurs. Don't miss this chance to expand your knowledge and network in the rapidly growing medical cannabis industry. What - 6th Florida Medical Cannabis Conference & Expo When - June 2-4, 2023 Where - Rosen Centre Hotel, 9840 International Dr., Orlando, Florida Meet - Lunch and happy hour networking. Join your Meetup host Catherine Zito during either the lunch (12p-1p) or evening reception (5:30p-7p) in the expo hall, Saturday, June 3. Two free drink tickets with your conference ticket. Tickets - Receive 25% off any ticket. Includes education sessions, exhibit hall, networking receptions, drink tickets, continental breakfast, lunches, refreshment breaks, conference name badge, program and email list of attendees. 2 ways to buy become a free member of Cannabis Entrepreneurs and Investors or visit FMCCE . At checkout use discount code FCEIMG . Register today! Exhibitor and Sponsor Specials - Interested in a booth or sponsorship to showcase your products or services? Contact Catherine Zito at cz@catherinezito.com or mobile (813) 486-2416. Speaker Opportunity - More info https://fmcce.com/call-for-speakers https://fmcce.com/call-for-speakers
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By Catherine Zito 29 Jan, 2024
The growing hemp and cannabis business faces some tricky issues when it comes to getting paid. But don't worry! Cannabis Business Solutions offers a straight forward approach to make the application process simple and smooth. CBS helps hemp, Delta, medical and recreational cannabis and related businesses with easy and efficient payment processing, whether you're selling in stores, online or mobile. Nobody likes the stress of their credit card account or bank suddenly closing for no reason. Catherine Zito, CEO of Cannabis Business Solutions, Inc. and the organizer of the three largest U.S. hemp and cannabis networking groups with over 6,000 members says this issue happens too often. Starting a business can be overwhelming, especially with payments. But a good payment processor should handle all the complicated items, like compliancy, keeping customers data safe, and offering an alternative to cash transactions. This is crucial, as relying solely on cash can expose staff and the business to the risk of theft. A hemp or cannabis friendly bank is required before making an application for merchant credit card processing. CBS works with over 60 banks and credit unions across the country. “Our job is to find the perfect fit for each merchant and give competitive rates to make sure they make the most money,” says Catherine Zito. Banks aren't all the same, so our good relationships make it easy for businesses to find a bank and apply for merchant processing without any fees or long contracts. We're here to give special help that fits each business's needs. We strongly advise seeking out a reliable individual or company to assist you with payment processing in the ever-evolving cannabis and hemp industry. For more information or to schedule a complimentary consultation, visit CBScannabis.com .
cannabis networking event
By Catherine Zito 27 Oct, 2023
Join us for our highly anticipated 100th Ultimate Networking Party and network with 150 guests. This event is an exceptional opportunity for B2B and B2C professionals to connect with industry elites. Forge valuable connections, explore limitless possibilities, and elevate your business. Experience the vibrant atmosphere of The CURRENT Hotel, Marriott Autograph Collection with complimentary valet parking. This will be a sell-out event; secure your tickets today and gain access to this exclusive networking event.
Best CBD and Cannabis Payment Processor, Cannabis Business Solutions
03 Jul, 2023
Cannabis Business Solutions (CBS) as the superior alternative, offers merchants safe compliance, lower rates, exceptional customer service, and the freedom to switch processors at any time. CBS spends time with merchants to learn about their goals and needs including retail, ecommerce and mobile processing for hemp and cannabis businesses.
By Catherine Zito 22 Apr, 2023
Gain insights from prominent industry experts and connect with respected physicians, medical professionals, sports, attorneys, bankers, financiers, operators, and entrepreneurs. Don't miss this chance to expand your knowledge and network in the rapidly growing medical cannabis industry. What - 6th Florida Medical Cannabis Conference & Expo When - June 2-4, 2023 Where - Rosen Centre Hotel, 9840 International Dr., Orlando, Florida Meet - Lunch and happy hour networking. Join your Meetup host Catherine Zito during either the lunch (12p-1p) or evening reception (5:30p-7p) in the expo hall, Saturday, June 3. Two free drink tickets with your conference ticket. Tickets - Receive 25% off any ticket. Includes education sessions, exhibit hall, networking receptions, drink tickets, continental breakfast, lunches, refreshment breaks, conference name badge, program and email list of attendees. 2 ways to buy become a free member of Cannabis Entrepreneurs and Investors or visit FMCCE . At checkout use discount code FCEIMG . Register today! Exhibitor and Sponsor Specials - Interested in a booth or sponsorship to showcase your products or services? Contact Catherine Zito at cz@catherinezito.com or mobile (813) 486-2416. Speaker Opportunity - More info https://fmcce.com/call-for-speakers https://fmcce.com/call-for-speakers
By Catherine Zito 22 Feb, 2023
Meet the biggest names in cannabis, enjoy high-level networking, live company presentations, insider panels and exhibit hall. Join us for food, receptions, VIP lounge and after-parties! Benzinga offers two days for the cannabis industry and the third day is dedicated to the business of psychedelics. These events are geared toward the B2B space, but consumers are welcome too. What - Benzinga Cannabis Capital Conference Cannabis Conference - Apr 11 - 12, 2023 (Two-day cannabis conference and expo) Psychedelics Conference - April 13, 2023 (One-day psychedelics conference and expo) Where - Fontainebleau Hotel, 4441 Collins Ave, Miami Beach, FL Who - Cannabis executives and entrepreneurs Tickets - 20% off all tickets! Free sign up at Cannabis Entrepreneurs and Investors 3,400+ members or the Colorado Cannabis Network 1,000+ members. Exhibitor Specials - Interested in a booth or sponsorship to showcase your products or services? Receive 25% off any booth. Contact Catherine M. Zito to discuss sponsorship options and special discounts. cz@catherinezito.com or mobile (813) 486-2416. NEW Meetup Sponsorship Opportunities - Market your products or services with one of our Meetup Anytime-Anywhere Sponsorships. Reach to 10,000-40,000. Check out Sponsorship Options
https://www.meetup.com/cannabis-entrepreneurs-investors/
By Catherine Zito 01 Feb, 2023
Join thousands at the exciting 3-day Alternative Products Expo in Fort Lauderdale, FL. 100 FREE Tickets! March 3-5, 2023. Visit https://www.meetup.com/cannabis-entrepreneurs-investors/
Happy Hour Networking 2-9-23 Cannabis Entrepreneurs and Investors
By Catherine Zito 10 Jan, 2023
Free happy hour networking at Sparkman Wharf, Tampa, FL Feb. 9, 2023. Sign up https://www.meetup.com/cannabis-entrepreneurs-investors/
04 Jan, 2023
Staying informed about your state and U.S. cannabis licensing is key to the growth of your business and future opportunities. During Arcview's Town Hall you'll hear from A-list speakers, key business owners, influencers and regulators. The webinar will discuss resources within a state, industry challenges, advances and what’s on the horizon for 2023. What - Arcview Town Hall: Federal Cannabis Updates. When - Thursday, January 26, 2023. Time - 4:00pm ET / 1:00pm PT. Where - Online. Free webinar. Who - Everyone is welcome! Cost - Free. Registration - Registration – More info and free sign up https://www.meetup.com/cannabis-entrepreneurs-investors RSVP - Let us know you're interested in this topic with an RSVP in our networking group, but be sure to register directly with Arcview. Share this event with your friends! Meetup Event Sponsorship Opportunities . Promote your products or services to 10,000. Check out our Sponsorship packages . Host – Catherine M. Zito, CEO Cannabis Business Solutions, Inc. has been the organizer of the 3300+ member Cannabis Entrepreneurs and Investors Meetup for seven years. She is also the organizer of Colorado Cannabis Network with 1100+ members.
04 Jan, 2023
International speaker, author and motivational coach, David B. Wilkinson shares tips on how momentum and shifting your mindset can help you grow personally and scale your business. You'll learn about intentional focus, balance, expanding your perspective, increasing revenue, acquiring new customers, recruiting a loyal team and secrets for long term success. What - How to Create Momentum for Success Webinar. David B. Wilkinson, 20 years experience as an speaker, author and coach. When – Thursday, January 19, 2023 Time – 3:00pm EST | 1:00pm MT | 12:00pm PST Where – Online Zoom webinar. Advanced registration required. Who – Everyone is welcome! Cost – Free Registration – Free sign up https://www.meetup.com/cannabis-entrepreneurs-investors Event Sponsorship Opportunities . Promote your products or services and reach over 10,000. Check out our Sponsorship packages Host – Catherine M. Zito, CEO Cannabis Business Solutions, Inc. has been the organizer of the 3300+ member Cannabis Entrepreneurs and Investors Meetup for seven years. She is also the organizer of Colorado Cannabis Network with 1100+ members.
event networking sponsorship
13 Oct, 2022
Networking event sponsorships provide businesses with branding opportunities that lead to new customers, sales and a fun and interactive experience that builds trust and credibility. 

“We specialize in cannabis and CBD business networking events,” says Catherine M. Zito, host of the 3,300+ member Cannabis Entrepreneurs and Investors Meetup. “We built our networking group over the past seven years and launched a sponsorship program to connect local and national businesses with our members who have successfully become new customers, patients and investors.” 5 Benefits of Networking Event Sponsorships Select a sponsorship that specifically reaches your target market. Look for a combination of a live event with digital promotions. Align with a reputable event or organization. It’s better to stand on the shoulders of giants than marketing on your own. For startups, a networking event is a great place to start. You’ll build new relationships and a customer base fast. Networking events provide lead generation. Remember, the gold is in the followup!
 Event sponsorships build trusting relationships. You'll receive instant credibility and branding.
 
“We recommend sponsorships include in-person events combined with digital promotions pre and post event,” says Zito. “It’s a newer concept that works better than being only a sponsor for a day. It takes multiple efforts to promote products and services so when a company sponsors one of our events, they receive immediate credibility. It’s really the easiest and fastest way for a startup or any business to brand their company and meet new customers. View our past 100 events and sign up for free to receive future networking and educational updates. https://www.meetup.com/cannabis-entrepreneurs-investors /
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