New York State Senator Jeremy Cooney presented the first of two pieces of cannabis legislation that should help advance efficiency and compliance across the marijuana banking industry, reported Syracuse.
Under the so-called Cannabis Banking and Disclosure Act, Senate Bill S8758, New York's Office of Cannabis Management (OCM) would be allowed to share information gathered from applicants and licensees with financial institutions that are considering providing banking services to marijuana businesses. In short, the OCM would be authorized to share this data for the “purpose of consideration and compliance.”
