In July 2025, a bipartisan coalition of 32 state and territorial attorneys general (AG) sent a letter to Congressional leaders urging the passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act. Their letter...more
8/6/2025
/ Anti-Money Laundering ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
Dispensaries ,
Financial Institutions ,
Financial Services Industry ,
Legalization ,
Marijuana Related Businesses ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform ,
Retail Market ,
State Attorneys General
In a February 19 complaint filed in Arizona state court, Texas-based payment processer Switch Commerce LLC argued that multistate cannabis operator Trulieve Cannabis Corp. and its affiliates should be responsible for a...more
3/17/2025
/ Anti-Money Laundering ,
ATMs ,
Banks ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
Marijuana Related Businesses ,
Payment Processors ,
Regulatory Requirements ,
Retail Market ,
Retailers ,
Visa Inc
The legal marijuana industry has grown rapidly in the U.S., with 38 states, three territories, and the District of Columbia legalizing its use for medical and/or recreational purposes. However, despite the industry’s growth,...more
11/30/2023
/ Agribusiness ,
Controlled Substances ,
Controlled Substances Act ,
Cryptocurrency ,
Decriminalization of Marijuana ,
Dispensaries ,
Financial Institutions ,
Marijuana ,
Marijuana Related Businesses ,
Mobile Payments ,
Retail Market ,
Stablecoins
I. Introduction -
Effective on January 1, 2024, the Corporate Transparency Act (CTA) will require all nonexempt entities to report certain identifying information of its beneficial owners (as defined below) and company...more
11/15/2023
/ Anti-Money Laundering ,
Beneficial Owner ,
Cannabis-Related Businesses (CRBs) ,
Commodity Exchange Act (CEA) ,
Corporate Transparency Act ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Marijuana Related Businesses ,
Money Laundering ,
Reporting Requirements
In the latest episode of Payments Pros, hosts Keith Barnett and Carlin McCrory are joined by Jean Gonnell and Agustin Rodriguez, co-leaders of Troutman Pepper’s Cannabis practice, to discuss the legal complexities that...more
State attorneys general (AG) are continuing their push for cannabis banking reform, underscoring the need for action to promote public health and safety in legal cannabis markets. On Wednesday, a bipartisan group of 22 state...more
9/28/2023
/ Agribusiness ,
Banking Reform ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Decriminalization of Marijuana ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Marijuana Related Businesses ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Oversight ,
State Attorneys General