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About the Course
Introduction
This CLE course will examine banking issues presented by the conflict between various states' legalization of cannabis and federal law treatment of it as a controlled substance. The panel will discuss regulatory and enforcement risks associated with financing and taking deposits from cannabis-related businesses (CRBs) and best practices for mitigating those risks. The panel will also discuss recent legislative and regulatory developments relating to certain banking activities with CRBs.
Description
While medical use of cannabis is legal in 40 states and recreational use is legal in 24 states and Washington, D.C, cannabis remains illegal at the federal level under the Controlled Substances Act (CSA). Many financial institutions will not provide banking services to CRBs due to this conflict between state and federal laws. Bank counsel must be able to navigate the regulatory complexities created by this conflict in advising banks doing business with CRBs.
Banks face inconsistent regulatory approaches taken by different administrations and different federal agencies. FinCEN issued FIN-2014-G001 to clarify how financial institutions can provide services to CRBs and set forth reporting requirements, including suspicious activity reports (SARs). The Treasury Department has indicated that FIN-2014-G001 remains in place, even though the Cole Memo, which correlated to FIN-2014-F001, was rescinded in 2018. Also, FinCEN has recently shown it will continue to enforce its 2014 Marijuana Bank Secrecy Act Guidance.
Before taking deposits or transacting business with CRBs, financial institution counsel must understand the relevant Bank Secrecy Act and anti-money laundering (AML) issues and fully comply with federal Know Your Customer (KYC) requirements. Lending to a CRB is risk-inherent because cannabis remains a Schedule I drug under the CSA. Enforcement rights for lenders may be curtailed by limiting loan enforcement remedies only to state law and in state court.
The Secure and Fair Enforcement (SAFE) Banking Act, which was introduced in 2023, prohibits federal banking regulators from penalizing banks and credit unions for serving state-legal cannabis businesses. Despite a great deal of momentum in the House, this Act did not ultimately become law and has now been reintroduced in 2025 as the Secure And Fair Enforcement Regulation (SAFER) Banking Act. The SAFER Banking Act is now the primary legislation for federal cannabis banking reform in 2025, and it offers a legal framework for cannabis banking. Under the SAFER Banking Act, CRBs operating in compliance with state law would have access to checking accounts, loans, electronic banking, and other financial products.
Listen as our authoritative panel discusses these and other issues confronting banks that contemplate taking deposits or provide financing to CRBs. The panel will also discuss steps for banks and other financial institutions to avoid regulatory pitfalls and workarounds to resolve enforcement risks.
Credit Information
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Wednesday, November 12, 2025
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Legalization of cannabis at the state level: current status
II. Federal regulation
A. Controlled Substances Act
B. FIN-2014-G001 and the Cole Memo
C. DOJ vs. Treasury pronouncements
III. SAFE and SAFER Banking Acts
IV. Doing business with CRBs
A. Reporting requirements under FIN-2014-G001: SARs
B. Compliance with AML and KYC requirements and the Bank Secrecy Act
V. Enforcement issues
A. State level remedies
B. Issues in bankruptcy: federal jurisdiction
The panel will review these and other key issues:
- How have banks reacted to the legalization of cannabis in various states given its treatment as a controlled substance at the federal level?
- What were the safe harbors provided under FIN-2014-G001 and the Cole Memo, and how have policy pronouncements by the Trump administration affected them?
- What concerns should CRB lenders have in regard to remedies given the illegal nature of the underlying collateral under federal law?
- Why is compliance with AML and KYC requirements especially important before taking deposits from CRBs?
- What types of protections does the SAFER Act provide for banks and financial institutions doing business with CRBs?
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The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> An error occurred while processing the template.
The following has evaluated to null or missing:
==> barbriRedisCacheAPI.get("barbripass", productId) [in template "20096#20121#2885355" at line 5, column 77]
----
Tip: If the failing expression is known to legally refer to something that's sometimes null or missing, either specify a default value like myOptionalVar!myDefault, or use <#if myOptionalVar??>when-present<#else>when-missing</#if>. (These only cover the last step of the expression; to cover the whole expression, use parenthesis: (myOptionalVar.foo)!myDefault, (myOptionalVar.foo)??
----
----
FTL stack trace ("~" means nesting-related):
- Failed at: response = barbriRedisCacheAPI.get("b... [in template "20096#20121#2885355" at line 5, column 66]
---- 1<#assign productId = ''/> 2 <#if (productID.getData())?? && productID.getData()?has_content> 3 <#assign productId = productID.getData() /> 4 </#if> 5 <#assign response = barbriRedisCacheAPI.get("barbripass", productId) 6 json = jsonFactoryUtil.createJSONObject(response) 7 /> 8 9 <div class="card"> 10 <div class="card-body"> 11 <div class="row justify-content-between align-items-center"> 12 <div class="col-auto col-sm-auto"> 13 <div class="btn cle_btn" id="modalPassShortName"><#if (passName.getData())??>${passName.getData()}</#if></div> 14 </div> 15 <div class="col-auto col-sm-auto pl-lg-0"> 16 <span class="sale-price" id="modalPassPrice">$${json.pricebook?replace(",", "")?number?string("#,##0.00")}</span> 17 </div> 18 </div> 19 <div class="small_heading_area" id="modalPassFullName"><#if (title.getData())??>${title.getData()}</#if></div> 20 <p><#if (unlimitedText.getData())??>${unlimitedText.getData()}</#if>:</p> 21 <ul class="common-list disc_list paddNone"> 22 <#if (benefits.getData())??> 23 ${benefits.getData()} 24</#if> 25 </ul> 26 </div> 27 <div class="btn-float"> 28 <div class="premium-cle-pass cart-item"> 29 <input type="hidden" class="product-id" value="${productId}"> 30 <input type="hidden" class="product-name" value="${json.name}"> 31 <input type="hidden" class="pass-value" value="${passName.getData()}"> 32 <input type="hidden" class="product-price" value="${json.pricebook}"> 33 <input type="hidden" class="passAccessLengthMonths" value="${json.passAccessLengthMonths}"> 34 <input type="hidden" class="product-pass" value="family"> 35 <input type="hidden" class="product-expireDate" value=""> 36 37 <button 38 class="btn pc_theme_btn btn-primary btn_maxwidth_xxl_large add-to-cart" 39 aria-label="Buy Now" 40 data-redirect-checkout="true" 41 > 42 <span class="material-symbols-rounded"> shopping_cart </span> 43 Buy Now 44 </button> 45 </div> 46 </div> 47 </div> 48 49 <script> 50$(document).on('click', '.add-to-cart', function () { 51 let monthsToAdd = parseInt($(".passAccessLengthMonths").val()); 52 let currentDate = new Date(); 53 let futureDate = new Date(currentDate); 54 // Add months dynamically 55 futureDate.setMonth(futureDate.getMonth() + monthsToAdd); 56 57 // Handle overflow (e.g., Jan 31 + 1 month) 58 if (futureDate.getDate() !== currentDate.getDate()) { 59 futureDate.setDate(0); // last day of previous month 60 } 61 62 // Format as MM/DD/YYYY 63 function formatDateMMDDYYYY(date) { 64 let mm = String(date.getMonth() + 1).padStart(2, '0'); 65 let dd = String(date.getDate()).padStart(2, '0'); 66 let yyyy = date.getFullYear(); 67 return mm + '/' + dd + '/' + yyyy; 68 } 69 $(".product-expireDate").val(formatDateMMDDYYYY(futureDate)); 70 71 // Then close the modal 72 $('.single_option').modal('hide'); 73 }); 74</script> Recommended Resources
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