News & Analysis as of July 31, 2025

New Guidance

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers

Ballard Spahr LLP on 7/1/2025

Banks and credit unions may now rely on third parties to provide a consumer’s Social Security or Taxpayer Identification Number, according to an order issued by the FDIC, OCC and the NCUA with the consent of the Financial...more

The Banking of Cannabis and Hemp-Related Customers: An Update

Ballard Spahr LLP on 7/8/2020

We are really pleased to presenting on July 9, 2020 to the National Association of Federally-Insured Credit Unions (“NAFCU”) on banking issues relating to cannabis. The cannabis and hemp industry continues to pose a...more

DBO Issues Guidance To Banks And Credit Unions Serving Cannabis Related Businesses

Allen Matkins on 10/4/2019

In the early 1970s, I worked as a petroleum transfer engineer (aka service station attendant). In those halcyon days, we actually pumped the gas for customers, washed their windows and offered to check the oil. I remember one...more

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FinCEN › Credit Unions › New Guidance

Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers

The Banking of Cannabis and Hemp-Related Customers: An Update

DBO Issues Guidance To Banks And Credit Unions Serving Cannabis Related Businesses

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