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New Regulations Address Information Sharing with Financial Institutions

By Lauren Mendelsohn February 9, 2021 On February 1, 2021, California’s Office of Administrative Law (OAL) approved emergency regulations pertaining to the sharing of licensees’ information between financial institutions and California’s cannabis licensing agencies. These regulations were adopted in response to Business and Professions Code §26260 (enacted last year by […]

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Federal Bank Regulators OK Hemp Banking and Financial Services

December 6, 2019 By Andrew Kingsdale On December 3, 2019, federal banking agencies released a joint statement clarifying requirements under the Bank Secrecy Act (BSA) for banks providing financial services to hemp growers.  Because hemp is no longer a Schedule I controlled substance under the Controlled Substances Act, banks are […]

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