Feds Issue Banking Regs for Marijuana Businesses
FinCEN (the Financial Crimes Enforcement Network) and Department of Justice today issued new guidelines and a memo for banks doing business with marijuana businesses. The FINCEN press release is here.
The guidance provides that financial institutions can provide services to marijuana-related businesses in a manner consistent with their obligations to know their customers and to report possible criminal activity.
|< Ex-Nola Mayor Ray Nagin Convicted | Valentine's Day Open Thread >|