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Money Laundering › Bank Secrecy Act › Controlled Substances Act

The Volkov Law Group

U.S. Marijuana Laws Cause Uncertainty for Financial Institutions

The Volkov Law Group on

The quasi-legal status of marijuana in today’s United States is raising serious questions about federalism and enforcement for U.S. financial institutions. It is well known that marijuana is still classified as a Schedule I...more

Miller Starr Regalia

Do You Feel Lucky, Banker? The Shaky Prospects For Financial Transactions With Marijuana-Related Businesses

Miller Starr Regalia on

Federal law prohibits the manufacture, possession, or use of marijuana for any purpose, including medical purposes. This prohibition notwithstanding, as of January of 2018, 29 states plus the District of Columbia have...more

Burns & Levinson LLP

The Emergence of Cannabis Banking

Burns & Levinson LLP on

In the fast-growing legalized cannabis industry, one of the major obstacles for businesses has been—and continues to be—access to banking services. Because cannabis remains a Schedule I drug and unlawful at the federal level...more

Broker-Dealer Compliance + Regulation

Toke on This: FinCEN Issues Guidelines for Marijuana-Related Businesses

Broker-Dealer Compliance + Regulation on

The Financial Crimes Enforcement Network (FinCEN) got a whiff of the fact that financial institutions provide services to burgeoning marijuana-related businesses and published guidance to clarify customer due diligence...more

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