ABA calls for marijuana banking access
CHICAGO — The American Bar Association has adopted a resolution urging the passage of federal legislation facilitating banks and other financial institutions to legally interact with licensed cannabis businesses.
The resolution calls for the “enactment of [federal] laws to ensure that it shall not constitute a federal crime for banks and financial institutions to provide cannabis-related services.”
Under existing law, banks are discouraged from engaging with state-licensed marijuana businesses. In September, members of the U.S. House of Representatives voted 321 to 103 in favor of HR 1595: The SAFE Banking Act, amending federal law so that financial institutions may work directly with state-legal marijuana businesses without fear of federal repercussions. The bill now awaits action from the Senate Banking Committee. However, Committee Chair Mike Crapo (R-Ind.) has expressed opposition to the measure.
In 2019, the ABA adopted a separate resolution urging Congress “to enact legislation to remove marijuana from Schedule I of the Controlled Substances Act.” With over 400,000 members, the American Bar Association is among the largest voluntary organizations in the world.
More seniors turning to cannabis
NEW YORK — Cannabis use is increasing among those ages 65 and older, according to data published in the journal JAMA Internal Medicine.
Researchers affiliated with the New York School of Medicine assessed trends in self-reported cannabis use among seniors. They reported that 4.2 percent of seniors acknowledged engaging in past-year cannabis consumption in 2018, up from 2.4 percent in 2015 and 0.4 percent in 2006.
The study’s findings are consistent with those of prior papers similarly reporting an uptick in marijuana use among older Americans. According to a 2019 study published in the journal Gerontology & Geriatric Medicine, marijuana use among seniors is associated with self-reported improvements in pain management, day-to-day functioning, and in their overall health and quality of life.
Employers’ attitudes shifting on drug tests
SUNNYVALE, Calif. — A growing number of companies are either abandoning marijuana-specific drug testing programs or reducing the frequency with which they test, according to nationwide survey data compiled by the online recruitment website Simply Hired Incorporated.
Fifty-five percent of hiring managers polled in the survey said that their companies do not test current employees for off-the-job marijuana use. Among those hiring managers who work for companies that do engage in testing, 40 percent said that “they do it less often than in the past.” Larger-sized companies (1,000+ employees) were far more likely to utilize pre-employment testing for cannabis than were smaller-sized companies.
Nearly 70 percent of hiring managers said that their company would be “okay” with an employee using cannabis while away from work “as long as the company remains unaware of it.” Among employees surveyed, 75 percent said testing positive for marijuana should not be grounds for automatic termination.
Cannabis Culture news in the Blade is provided in partnership with NORML. Visit norml.org for more information.