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Medical Marijuana Dispensaries and Commercial Real Property Lenders—What is the Dope?

Numerous articles have been published about medical marijuana dispensaries. In fact, I read in an article last week that a bipartisan coalition of members of the House of Representatives recently voted to restrict the Drug...more

Creaking Open the Doors for Marijuana Businesses May Be Big Risk

Banks struggling with the question of whether – and how – to work with marijuana-related businesses can look to Colorado and Washington for ideas, but will do so at their own risk if the ongoing dialogue between FinCEN and...more

Despite FinCEN and Department of Justice Guidance, Difficulties Remain for Financial Institutions Providing Services to...

As more States move towards the legalization of marijuana in various forms and to various degrees, marijuana is quickly becoming a growing and profitable industry. Despite changing state legislation, the federal government...more

Marijuana, Banking, and the “10-Foot Pole”

On February 14, 2014, the Financial Crimes Enforcement Network (“FinCEN”) issued guidance aimed at clarifying Bank Secrecy Act expectations for financial institutions interested in providing services to marijuana-related...more

Marijuana Taxation Update: State Sanctioned Marijuana Industry Must Keep the Federal Anti-Drug Trafficking Tax Code in Mind

As we have previously reported, despite the growing number of States that have authorized the use of marijuana in various forms, the federal government has continued to crack down on dispensaries. In addition to direct...more

FinCEN Issues Guidance for Financial Institutions Seeking to Provide Services to Marijuana-Related Businesses

The Financial Crimes Enforcement Network (“FinCEN”) issued guidance (the “Guidance”) to clarify FinCEN’s expectations as to how financial institutions (“FIs” and each an “FI”) will meet their compliance requirements under the...more

Anti-Money Laundering Compliance Update: FinCEN Issues Guidance For Financial Institutions Providing Services To Marijuana-Related...

On February 14, 2014, the Financial Crimes Enforcement Network (“FinCEN”) issued its guidance “BSA Expectations Regarding Marijuana-Related Businesses” in an effort to clarify Bank Secrecy Act (“BSA”) expectations for...more

FinCEN Guidance On Bank Secrecy Act Expectations Regarding Marijuana-Related Businesses

Full text copy of the Department of Treasury Financial Crimes Enforcement Network (FinCEN) guidance clarifying the Bank Secrecy Act expectations for financial institutions seeking to provide banking services to...more

The Legalized Marijuana Industry’s Evolution Is An Exercise In Banking Compliance

On Jan. 1, recreational marijuana officially went on sale in Colorado, marking the first state in the Union to permit the recreational sale and use of marijuana. For the last year — following the passage of Amendment 64,...more

Update: “Marijuana Businesses Access to Banking Act of 2013? proposed in Congress to ease burdens associated with providing...

On July 10, 2013, U.S. Representatives Ed Perlmutter (D-Colorado) and Denny Heck (D-Washington) introduced the “Marijuana Businesses Access to Banking Act of 2013” (“Access to Banking Act”) in the United States House of...more

White Collar Watch - July 2013

In This Issue: - Factors in Forfeiture: Eleventh Circuit Rules in Seizure of Rothstein Ponzi Assets - Health Care False Statement Statute Serves as Backstop for Government In Nearly Failed Prosecution -...more

An Identifiable Risk to Collateral Property That Is Used In The Marijuana Business

The legalization under state law of the marijuana business in Colorado through Amendment 20 (medical marijuana) and Amendment 64 (recreational marijuana) (Amendment 20 and Amendment 64 shall be referred to collectively as the...more

Update: Banking Difficulties May Lead Marijuana Dispensaries to Commit Bank Fraud

As we have previously reported, despite the growing number of States that have sanctioned the use of marijuana in various forms, the federal government has continued its efforts to crack down on dispensaries....more

CFPB to make first preemption determinations

The CFPB intends to determine whether certain provisions of Maine and Tennessee laws relating to unclaimed gift cards are preempted by federal law on gift card expiration dates. The CFPB’s rulings will represent the agency’s...more

Got Pot? The Feds Try to Make Mortgagee Banks Liable Under the Crack House Statute

Banks holding mortgages now have one more thing to worry about: potential criminal and civil liability and forfeiture under the federal “crack-house” statute. Sound crazy? Read on, because late last year the four U.S....more

Second Circuit Holds That the Private Securities Litigation Reform Act of 1995 Bars All RICO Claims Based Upon Alleged Acts of...

In MLSMK Investment Co. v. JP Morgan Chase & Co., No. 10-3040-cv, 2011 WL 2640579 (2d Cir. July 7, 2011), the United States Court of Appeals for the Second Circuit affirmed the dismissal of claims brought under the Racketeer...more

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