SAFE Banking for the Cannabis Industry: An Overview

The proposed Secure and Fair Enforcement (“SAFE”) Banking Act of 2019 addresses the cannabis industry’s pressing desire to join the banking world. (American Bankers Association, GovInfo).

Currently, most banks deny modern luxuries such as checking accounts, savings accounts, payroll services, insurance policies, credit cards, debit cards, and online banking to participants in the cannabis industry. Id. This freeze-out stems from laws that hold banks liable for money laundering when processing money from an illegal enterprise. Id. Under federal law, any cannabis related business still constitutes an illegal enterprise. Id. This banking situation is no longer a viable option. Id.

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Trending Topics, Featured TopicRace to the BottomAlexandra Feathers
COVID-19 Immunity Tests: Dangerous Territory for Employers

As the COVID-19 pandemic continues, employers are among the many groups of people facing new challenges. Against the Equal Employment Opportunity Commission’s (“EEOC”) discouragement, many employers have utilized antibody testing to avoid liability as their employees return to work. (Mulvaney, Bloomberg). The EEOC and several other agencies state that antibody testing might have an unintended discriminatory impact on several groups of employees. (Mulvaney, Bloomberg). These concerns raise issues that employers need to consider in the midst of today’s volatile work world: is antibody testing a satisfactory way to screen employees before allowing them into a workplace? If not, how should employers provide a safe workplace?

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Trending Topics, Summer 2020 Special Topic, Summer 2018 Special TopicRace to the BottomSean Wimbush
Women Lawyers in the Age of COVID-19

The COVID-19 pandemic’s effect on the legal profession has been profound and has impacted law firms of all sizes. Female attorneys in particular may see the worst of the pandemic’s effects. (Russell-Craft, Bloomberg Law). After a sharp decline following the post-2008 economic downturn, the percentage of female attorneys working in large law firms had just returned to pre-recession levels when the COVID-19 pandemic hit. (Tribe & Russell-Craft, Bloomberg Law). As a result, diversity experts are concerned that female attorneys will again be the group most impacted by the current economic crisis. Id. They worry that the pandemic will undo much of the work the legal profession had done in the years following 2008 to promote diversity and facilitate success for females in the profession. Id.

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Trending Topics, Featured TopicRace to the BottomLanny Holstein
Consumer Data in the Wake of COVID-19

“Contact Tracing” is a term used by the Centers for Disease Control (“CDC”) that means tracking the spread of COVID-19 in order to interrupt the virus’s transmission. (CDC, Contact Tracing – CDC’s Role and Approach). The upside of allowing big tech firms; Apple, Google, Microsoft, and Facebook, to track our location data is clear: when a person tests positive for COVID-19, those who have been in recent proximity to that person can be notified that they, too, should get tested. Such tracking would thus allow for swifter tracking of COVID-19 as it spreads person-to-person and disrupt its transmission. But it may also be important for consumers to wonder whether they can trust big tech to handle their location data with care.

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Trending Topics, Featured Topic, Shareholder ActionsRace to the BottomBradley Ecker
An Increase in the Usage of Mobile Payment Systems Calls for an Increase in Regulations

Due to the usage of mobile payment systems increasing, there is a need for increased regulation to prevent anti-competitive behavior. Throughout history, consumers have relied on some form of payment system to purchase the goods or services they want or need. From bartering to mobile payment platforms, there is one consistent theme regarding the evolution of payments, that consumers prefer convenience. Generally, mobile payments are defined as the use of a mobile device – commonly, but not exclusively, a smartphone or tablet computer – to initiate a transfer of funds to people or businesses. (Jeffrey M. Kopchik, FDIC). The use of mobile payments continues to rise globally as consumers are increasingly capable of purchasing goods and services with apps such as Apple Pay, Google Wallet, PayPal, and more. United States (“U.S.”) mobile sales are expected to grow from roughly 40 percent of e-commerce this year to 53.9 percent in 2021. (J. Clement, Statista). As use continues to grow, regulators must make a choice as to whether to actively regulate the use of mobile payments to increase competition for the benefit of consumers or allow the free market to reign.

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Cryptocurrency, Trending TopicsRace to the BottomPaige Pashea
CEOs Are Cutting Millions of Jobs Yet Keep Bonuses

As the COVID-19 pandemic reached the U.S. in early March, millions of American workers were furloughed or laid off, leaving many without a reliable income. (Kathryn Vasel, CNN Business). Unemployment in the U.S. rose to 17.8 million in June 2020, an almost 8% increase since February. (The Employment Situation, U.S. Dept. of Labor). Economists estimate unemployment could reach 32.1% in the second quarter of 2020, surpassing the Great Depression’s 24.9% peak. (Chris Morris, Fortune). Despite thousands of American workers struggling to pay their bills, Chief Executive Officers (“CEOs”) remain largely untouched. (Anders Melin, Bloomberg Law).

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Trending Topics, Corporate Governance, Director CompensationRace to the BottomAdriana Levandowski