News & Analysis as of

Credit Unions Controlled Substances Act

McGlinchey Stafford

What Would Cannabis Rescheduling Mean for Lending and Payments Legality?

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The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the...more

McGlinchey Stafford

SAFER Act: Marijuana May Soon Become a Bigger Deal

McGlinchey Stafford on

Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward. Most recently, the marijuana industry...more

McGlinchey Stafford

Marijuana & Banking: What’s the Hold Up? Pt. 1 – Conflicting Legal Landscapes

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Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize...more

Stinson LLP

Missouri Financial Institutions Must Prepare for Impending Marijuana Banking Challenges

Stinson LLP on

In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2019

Headlines - FDIC Adopts Final Rule Establishing Community Bank Leverage Ratio Framework OCC Issues Compliance Guidance on Registered Appraisal Management Companies CFPB Announces New Policies to Promote Innovation...more

Carlton Fields

National Credit Union Administration Gives Credit Unions the Green Light to Serve Lawfully Operating Businesses

Carlton Fields on

On August 20, 2019, the National Credit Union Administration issued a regulatory alert to all federally insured credit unions providing "interim guidance" regarding the service of hemp businesses by credit unions. The alert,...more

Amundsen Davis LLC

Credit Unions Encouraged To Bank Hemp Business

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A regulatory alert (the “Alert”) issued by the National Credit Union Administration (the NCUA) this week makes clear that the NCUA supports banking relationships between its members and lawfully operating hemp-related...more

Manatt, Phelps & Phillips, LLP

Pot-Friendly Credit Union Gets Second Chance at Master Account

A credit union seeking to provide banking services to marijuana-related businesses is flying high after the U.S. Court of Appeals, Tenth Circuit, reversed an order dismissing its suit requesting a master account at the...more

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