01 Mar 2022

The Safe Banking Act of 2021

Financial institutions face many challenges when providing banking and related activities to cannabis-related businesses in the U.S. Access this practice note to examine the legal and regulatory framework governing providing financial services to cannabis-related businesses under the Secure and Fair Enforcement Banking Act of 2021.

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    Access the statutory and regulatory reporting obligations for banks that provide activities and services to marijuana related business. This practice note will provide Counsel with key reporting requirements of the Bank Secrecy Act, as well as the reporting and filing requirements mandated by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury (U.S. Treasury).

 

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