Posted on

these businesses * Taking ….

these businesses * Taking any action on a loan to an owner or operator of a cannabis-related business.

The bill also creates a safe harbor from criminal prosecution and liability and asset forfeiture for banks and their officers and employees who provide financial services to legitimate, state-sanctioned cannabis businesses, while maintaining banks’ right to choose not to offer those services. Hemp and hemp-derived CBD related businesses are covered under this proposal as well.

The bill would require banks to comply with current Financial Crimes Enforcement Network (Fin-CEN) guidance, while at the same time allowing FinCEN guidance to be streamlined over time as states and the federal government adapt to legalized medicinal and recreational cannabis policies.

Leave a Reply

Your email address will not be published. Required fields are marked *