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FinCEN › Marijuana › Cannabis-Related Businesses (CRBs)

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... more +
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 -
Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

Gordon Rees Scully Mansukhani on

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Harris Beach Murtha PLLC

NY Office of Cannabis Management Launches Banking Directory to Support Cannabis Businesses

Harris Beach Murtha PLLC on

The New York State Office of Cannabis Management (“OCM”) recently announced it has created a Cannabis Banking Directory (the “Directory”), which currently lists 10 financial institutions servicing cannabis businesses and open...more

Goodwin

Navigating the Hazy Landscape: Challenges and Solutions in Cannabis Payment Processing

Goodwin on

The sale of adult-use cannabis has been legalized in 24 states in the United States. But this does not mean there are no other legal impediments to the cannabis industry in those jurisdictions. For example, cannabis...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Banking from the Inside: An Interview with Salal Credit Union

Husch Blackwell LLP on

Due to current federal law, cannabis businesses notoriously cannot access financial institutions, even just for depository accounts. In 2014, the Financial Crimes Enforcement Network (FinCEN) released guidelines that opened...more

Bradley Arant Boult Cummings LLP

Cannabis Banking: Will the SAFE Banking Act Finally Pass?

Bradley Arant Boult Cummings LLP on

One of the largest headwinds facing the cannabis industry is the lack of access to banking services. Many financial institutions refuse to serve the multibillion-dollar cannabis industry given the regulatory uncertainty...more

J.S. Held

Current Trends in Banking for Cannabis-Related Businesses (CRBs)

J.S. Held on

Weed, pot, reefer, Mary Jane, ganja – cannabis has as many slang names as it does methods of ingestion. No matter which name is used, cannabis is federally illegal and is included on Schedule 1 of the Controlled Substances...more

Carlton Fields

Credit Unions Ask Senate Banking Committee to Make Cannabis Banking Safe

Carlton Fields on

In the latest chapter of the ongoing saga of the U.S. Senate’s consideration and hopeful passage of the Secure and Fair Enforcement (SAFE) Banking Act, on February 7, 2020, the Credit Union National Association (CUNA) sent a...more

Morgan Lewis

Interagency Statement on Hemp-Related Business: No Comfort for Cannabis

Morgan Lewis on

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the US Department of the Treasury’s Financial Crimes Enforcement Network, in...more

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