Monday, September 30, 2019
U.S. House Passes Bill to Protect Banks Serving Marijuana Firms

Last Wednesday the U.S. House of Representatives approved the Secure and Fair Enforcement Banking Act (SAFE) by a vote of 321-103, with 91 Republicans voting in favor. SAFE protects banks that serve marijuana businesses operating legally at the state level. Specifically, the legislation would prevent regulators from penalizing banks solely for serving legal operators.

The bill represents the first standalone marijuana reform bill to be taken up by the House, with the vote coming two months after the first federal hearings examining the problems created by the lack of access to banking services for cannabis firms.
With the focus now on the Senate, Banking Chairman Mike Crapo has indicated his intentions for a vote by year-end to provide clarification for banks interested in serving marijuana businesses.

The legislation is supported by the American Bankers Association.  
Banking & Finance Attorneys Named "Lawyers of the Year" in Little Rock
Friday Eldredge & Clark, LLP is pleased to announce that 53 lawyers have been included in the 2020 Edition of  The Best Lawyers in America  and eight were named “Lawyer of the Year” in Little Rock. Four of those attorneys practice in the banking and finance group and include:
Lawyer of the Year 2020
Mergers and Acquisitions Law

Bryan is a partner in the firm’s Mergers and Acquisitions Practice Group. His diverse corporate practice focuses on representing individuals, companies and financial institutions in general business, transactional and regulatory matters. He has handled transactions in a variety of industries.
Lawyer of the Year 2020
Labor Law - Management

Mike is a partner in the firm’s Labor and Employment Practice Group with an emphasis on employment discrimination defense. He specializes in litigation of discrimination cases, wage-hour collective actions, sexual harassment, wrongful discharge, FMLA and employee and supervisor training. He is also a frequent speaker on a variety of employment law topics. 
Lawyer of the Year 2020
Banking and Finance Law

Robert heads the Finance and Commercial Transactions Practice Group and serves on the firm’s Management Committee. His diverse corporate practice focuses on representing companies and financial institutions in general business, transactional, securities and regulatory matters. 
Lawyer of the Year 2020
Nonprofit / Charities Law

Coleman is a partner in the firm’s Trust and Estate Planning Practice Group. His practice consists of performing analysis and planning for individuals with regard to gift, estate and generation-skipping transfer taxes; charitable and other lifetime and testamentary transfers; probate and estate, trust and non-profit/tax-exempt administration.
Kael K. Bowling
Commercial Litigation
Commercial Lending, Real Estate & Troubled Debt Restructuring & Bankruptcy
Banking Litigation
ERISA, Employee Benefits
Bankruptcy & Creditor's Rights
Commercial Lending, Tax Credit Financing & New Markets Tax Credits
Banking Litigation
The information provided above is created by the attorneys in the  Banking and Finance Practice Group at Friday, Eldredge & Clark, LLP. This is not a substitute for legal advice and should be considered for general guidance only. For more information or if you have further questions, please contact one of our Bank and Finance Attorneys.