Marijuana Banking Data Show Signs of Stabilization
Recently released fourth quarter 2024 marijuana-related Suspicious Activity Report (SAR) data show cannabis banking has started to stabilize, except in ...
Tag: FinCEN
FinCEN Issues Advisory on Chinese Money Laundering
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) is urging financial institutions to be on the lookout for evidence of ...
Payroll, Benefits Plans Cause Regulatory Headaches
The cannabis banking dilemma extends much further than simply needing a place to deposit sales revenue. Payroll and benefits plans ...
Ohio Becomes a Top SAR State After Launching Adult-Use
Ohio, which launched its adult-use market last year, jumped to fifth place among states filing marijuana-related Suspicious Activity Reports (SARs) ...
Record Number of Account Terminations in the 2nd Quarter
Financial institutions in the second quarter 2024 terminated the most cannabis accounts since records have been tracked, while reports indicating ...
SAFER Act Could Bring $3.4B in Bank Deposits Over 10 Years
Legislation to loosen cannabis banking regulations would increase insured banking deposits by more than $3 billion by 2034, according to ...
MJ-Related SARs Hit Highest Level in First Quarter
Financial institutions filed the most marijuana-related Suspicious Activity Reports (SARs) in the first quarter 2024 than in any other quarter ...
10 Years of FinCEN Marijuana-Banking Guidance
It’s been 10 years since the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, better known as FinCEN, has ...
