February 06, 2019

In their article, Jenner & Block Partner Wade A. Thomson and Associate E.K. McWilliams explain that the US cannabis industry generated nearly $9 billion in 2017.  Still, state licensed marijuana-related businesses (MRBs) such as dispensaries remain underserved by the banking and financial services industry.  The authors suggest that financial institutions remain vigilant for signs that the Department of Justice will step up enforcement actions against MRBs and also for guidance from the Financial Crimes Enforcement Network (FinCEN) on expectations for financial institutions that do business with MRBs.