On December 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, and the Office of the Comptroller of the Currency issued joint guidance to financial institutions providing or seeking to provide financial services to hemp-related businesses. The joint guidance clarifies FinCEN’s position that banks serving hemp-related businesses need not file suspicious activity reports (“SARs”) based solely on their customers’ otherwise legal hemp-related business. However, the ...
Welcome to the Cannabis Business Legal News blog where attorneys from SmithAmundsen blog about the all things cannabis business and legal news related.
- No April Fool’s Joke: The MORE Act was Just Passed by the House
- Significant Increase in Production of Cannabis and Psychedelics for Research Proposed by the DEA for 2022 – What You Need to Know Now
- Protecting Your Cannabis Business from the Trappings of the Telephone Consumer Protection Act
- The Historic Cannabis Administration and Opportunity Act Could Finally End Federal Cannabis Prohibition
- Illinois Cannabis Market Poised to Take Off With New Dispensary Lottery Bill and Issuance of New Licenses for Craft Growers, Infusers, and Transporters
- Federal Cannabis Reform Gaining Momentum: New Legalization Bill Introduced by Republican Congressmen
- Is the US on the Brink of Cannabis Legalization? Not Quite, but the House has Voted to Remove Cannabis from the Controlled Substances Act
- Cannabis Related Collections Still a Race to the Courthouse
- Essential Yet Ineligible: Cannabis-Related Businesses Face Conundrum Under COVID-19
- FinCEN Clarifies Position on Hemp SARs