Publications

  • Home
  •  >  Publications > 
  • Government Assurance Aside, Marijuana Money Still Risky for Banks

Publication Details

Government Assurance Aside, Marijuana Money Still Risky for Banks

American Banker - 8/25/2014

Partner Nicole Healy published the article “Government Assurance Aside, Marijuana Money Still Risky for Banks.” In the article, Healy discusses the risks for financial institutions in doing business with state-licensed marijuana dealers. Although approximately 20 states now allow for the sale of medical marijuana under some circumstances, financial institutions risk considerable exposure if they provide services to marijuana-related businesses, which remain illegal under federal law. Following a discussion of the legal framework that governs marijuana-related businesses, Healy notes that conducting the necessary compliance is likely to be “extremely burdensome” for banks, given a lack of transparency in the marijuana industry and the vagueness of some of the relevant regulations. 

Read More >