In the two and half years since Illinois legalized medical marijuana the banking industry remains largely hesitant to bank marijuana-related businesses. This seems true despite a memorandum from the Financial Crimes Enforcement Network (FinCEN) designed specifically to encourage the banking industry to provide, and ease the banking industry’s concerns with providing, financial services to marijuana-related businesses. The February 2014 FinCEN memo itself states that it “clarifies how financial institutions can provide services to marijuana-related businesses ...
Welcome to the Cannabis Business Legal News blog where attorneys from Amundsen Davis blog about all things cannabis business and legal news related.
- Movement on the SAFE Banking Act? The Senate is Talking the Talk, but Not Ready to Walk the Walk
- The Federal Government & CBD – What the FDA is Happening?
- Illinois Lawmaker Introduces Legislation to Legalize Psychedelic Therapy Programs
- Illinois Set to Roll out New Cannabis Retail License Applications and Lottery in Early 2023
- Could a Small Town in Pennsylvania Force Congress to Deschedule Cannabis?
- No April Fool’s Joke: The MORE Act was Just Passed by the House
- Significant Increase in Production of Cannabis and Psychedelics for Research Proposed by the DEA for 2022 – What You Need to Know Now
- Protecting Your Cannabis Business from the Trappings of the Telephone Consumer Protection Act
- The Historic Cannabis Administration and Opportunity Act Could Finally End Federal Cannabis Prohibition
- Illinois Cannabis Market Poised to Take Off With New Dispensary Lottery Bill and Issuance of New Licenses for Craft Growers, Infusers, and Transporters