• LeafedIn Marijuana Employment Weed App

Cannabis at the Bank, Update

We have been following the issue of cannabis access to the banking system for at least four years.  Here’s the latest update:


The federal banking agencies are having discussions with the Financial Crimes Enforcement Network about guidance on how financial institutions can serve marijuana-related businesses, an OCC official said today during a regulatory roundtable at the ABA Government Relations Summit.

“I would just say that we are engaged in discussions with FInCEN around these difficult questions,” said Darrin Benhart, deputy comptroller for supervision risk management at the OCC. He that there is “no easy answer,” and senior officials at the Federal Reserve and the FDIC said they are also in conversation with FinCEN.

Marijuana businesses in states that have legalized the drug — and where federal laws banning marijuana have not been enforced — have found it difficult to obtain banking services, since depository institutions are obliged to follow federal laws. ABA has expressed concern that FinCEN’s previous guidance on submitting marijuana-related Suspicious Activity Reports is not sufficient to overcome the legal risks of serving marijuana businesses.


[“cannabis at the bank”]

Featured Partner: Meet All Your Local Marijuana Needs (Buy Sell Buds) Anonymously In Real-Time For FREE

Leafedin – Weed App – Find Weed Near You! Meet Any of Your Marijuana Product or Labor Needs Locally in Real-Time! Free Anonymous Map Weed App, Works On Any Device, Sign-Up In Seconds and Find Bud Connects Marijuana Work or Labor, New Clients, etc INSTANTLY!


Author: DavidB

a heathen, but hopefully not an unenlightened one

Share This Post On

Pin It on Pinterest

Share This