ALCOHOL LAW ADVISOR
ALCOHOL LAW ADVISOR
Regulatory and Distribution Law Updates for the Alcohol Industry
ALCOHOL LAW ADVISOR
Regulatory and Distribution Law Updates for the Alcohol Industry

Congress Can Open Financial Institutions to Legal Cannabis Industry with SAFE Banking Act

By and on April 26, 2019

Federal statutes create risk for banks that want to operate in the cannabis space. Banks face the threat of civil actions, asset forfeiture, reputational risk, and even criminal penalties if they do business with customers in the cannabis industry. Further, because most banks will not touch cannabis money, the growers, processors, and retailers in the industry must often operate on a cash-only basis. The Internal Revenue Service has even had to build “cash rooms” to accommodate taxes paid by legal cannabis companies.

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Anthony DeMaioAnthony DeMaio
Anthony DeMaio* focuses his practice on government relations and communication strategies. Read Anthony DeMaio's full bio. *Non-lawyer professional


Robert M. KlineRobert M. Kline
Robert M. Kline focuses his practice on complex litigation and sensitive internal investigations, with an emphasis on health care law, class action defense in state and federal courts, demutualization disputes, non-competition agreements and Florida’s Deceptive and Unfair Trade Practices Act (FDUTPA). Read Robert Kline's full bio. 

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