Administrative/Regulatory
Feb. 28, 2014
Weed banking guidance: baby steps
This month, the Obama administration issued new guidance for banks, purportedly clarifying how they can provide financial services to marijuana-related businesses. By Theodore F. Monroe and Bradley O. Cebeci
Theodore F. Monroe
Law Offices of Theodore F. Monroe
800 W 6th St Ste 500
Los Angeles , CA 90017
Phone: (213) 233-2272
Email: Monroe@tfmlaw.com
Duke Univ SOL; Durham NC
This month, the Obama administration issued new guidance for banks, purportedly clarifying how they can provide financial services to marijuana-related businesses. Almost immediately, credit card processors began asking whether they could start offering card payment processing services to properly licensed pot shops. The short answer is "maybe."
This uncertainty stems from a three-page memo issued by the U.S. Department of Justice in conjunction with the new banking guidelines. In...For only $95 a month (the price of 2 article purchases)
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