News & Analysis as of October 15, 2024

Marijuana

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

Top 10 Legal Issues in the Cannabis Industry in 2024

ArentFox Schiff on 4/19/2024

In an industry known for its fast-paced changes, 2024 will be no different for cannabis. For all those with an eye on the industry, the number one question remains, is this the year for rescheduling? The answer is, maybe. And...more

First Rescheduling, Now SAFE: Cannabis Reform Marches Forward

Foley Hoag LLP - Cannabis and the Law on 9/26/2023

Fresh on the heels of intense optimism over the Department of Health and Human Services’ recommendation that cannabis be rescheduled, another key federal reform is in motion. On September 27, 2023, the Senate Committee will...more

Promissory Notes - Banking & Finance Insights, Issue 9

Spilman Thomas & Battle, PLLC on 11/3/2021

Top IRS Official Says Marijuana Banking Reform Would Help Feds ‘Get Paid’ - "IRS’s Cassidy Collins talked about the 'special type of collection challenge' that the agency faces when it comes to working with cannabis...more

Bank Report: December 2019

Nutter McClennen & Fish LLP on 12/23/2019

FDIC and OCC Propose CRA Modernization Rule with Opt-Out for Small Banks The FDIC and the OCC have jointly proposed amendments to modernize the agencies’ Community Reinvestment Act (“CRA”) regulations, which are intended...more

Banking Regulators Ease SAR Reporting Requirements Applied to Hemp-Related Businesses

Ballard Spahr LLP on 12/5/2019

On December 3, 2019, four federal agencies – the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (“FDIC”), the Financial Crimes Enforcement Network (“FinCEN”), and the Office of the...more

House of Representatives Passes Bill Aimed at Marijuana Industry Financial Reforms

The Volkov Law Group on 10/17/2019

A new bill that would make it easier for financial institutions to provide services to “marijuana-related businesses” has passed the U.S. House of Representatives 321-103 with strong bipartisan support....more

Nutter Bank Report, April 2019

Nutter McClennen & Fish LLP on 5/1/2019

FDIC Shares Examiners’ Expectations for Contracts with Technology Service Providers - The FDIC has issued guidance on examiners’ expectations for provisions of contracts between banks and technology service providers...more

Do You Feel Lucky, Banker? The Shaky Prospects For Financial Transactions With Marijuana-Related Businesses

Miller Starr Regalia on 6/22/2018

Federal law prohibits the manufacture, possession, or use of marijuana for any purpose, including medical purposes. This prohibition notwithstanding, as of January of 2018, 29 states plus the District of Columbia have...more

Providing Banking Services to the Legal Marijuana Industry: Mitigating Risks to Maximize Potential Rewards

Bradley Arant Boult Cummings LLP on 5/29/2018

Since 1996, when California became the first state to legalize marijuana (at the time, for medicinal purposes only), 28 additional states and the District of Columbia have legalized marijuana to some extent. Public support...more

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Federal Deposit Insurance Corporation › Marijuana Related Businesses › Marijuana

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