The U.S. House of Representatives is poised to pass a bill that would ease restrictions against banks doing business in the cannabis industry. The legislation would protect financial institutions working with pot companies in states were cannabis is legal against federal punishment, shedding some much-needed clarity in the burgeoning industry. Bloomberg reports that while the Secure And Fair Enforcement Banking Act is expected to pass the Democrat-controlled House on Wednesday, it would still have to overcome Republican resistance in the Senate.
41% of organizations have drug test protocols for cannabis: Report
According to a new report by the Conference Board of Canada, 41 per cent of employers have protocols in place to test for pot use. The report finds 40 per cent of organizations have a zero-tolerance policy when it comes to cannabis use in the workplace, while 70 per cent only require employees to come to work fit to perform their duties. More than half a million workers have reported using cannabis before or while on the job, according to Statistics Canada. The report says that there’s no one-size-fits-all policy for employers when it comes to cannabis and that companies will need to adapt their drug-testing methods to reflect their particular needs.
Juul CEO exits company amid regulatory pressure
Juul CEO Kevin Burns is leaving the company as regulatory backlash against vaping products continue to threaten the e-cigarette maker. The company named K.C. Crosthwaite, executive at major stakeholder Altria, to the top spot and also announced it is restricting its lobbying and marketing efforts in the U.S. amid increased scrutiny over public health concerns. The move comes the same day as Altria and Philip Morris announced they’ve abandoned merger talks in order to focus on launching their iQOS device in the U.S.
Pickup or Delivery? … Why not both?! Massachusetts says
Massachusetts regulators passed bills that will allow the state’s residents to consume cannabis in cafes and have pot delivered to their homes, according to a Springfield Republican report. Businesses can apply for licenses at a cost of $1,500 with an annual renewal fee of $10,000. Steven Hoffman, chairman of the state’s Cannabis Control Commission said delivery licenses could be considered within “a couple months.”
