- Posts by Timothy P. Malone
PartnerTimothy P. Malone represents clients in a wide range of complex litigation matters and has significant experience at both the trial and appellate levels on disputes involving commercial, corporate, and employment law, trusts and ...
Access to banking for cannabis-related business has taken a significant step forward, as the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act of 2021) by a vote of 321-101. https://www.congress.gov/bill/117th-congress/house-bill/1996 . Among other components, the bill bars federal banking regulators from penalizing banks that provide financial services to a legitimate cannabis-related business or services provider; permits banks to make loans to a legitimate cannabis related-related business; and makes clear ...
Moody’s Investors Service, Inc., a leading credit ratings, research, and risk analysis company, confirmed today that legalized marijuana provides positive revenue for states and localities which have permitted retail sale of marijuana, even taking into account the cost of regulation. While the share of the general revenue provided by taxes and licensing fees is relatively small – 1.2 percent of the general revenue in Washington and 2 percent in California, for example – that is in line with Governor Phil Murphy’s projections, which have accounted for an additional $60 ...
