Marijuana-Related Businesses: Banking

As you know, many states have legalized marijuana in some form or another. Depending on the state, it might be limited to medical use or wide open for all recreational use. While it’s legal at the state level, marijuana is still considered a Schedule 1 drug and therefore illegal on a federal level. This causes a lot of confusion and you still have to jump through some hoops to reconcile the two.

Just because marijuana is legal in some states doesn’t mean the risk goes away. Even legal operations can be touched by drug cartels and organized crime.

Kevin explains more in the video:

 

Published
2025/06/12

 

Kevin Edwards

Kevin brings years of experience and a unique perspective on regulatory matters to our clients. A self-proclaimed geek and accredited CRCM, Kevin is also a recovering attorney with experience as in-house counsel for a large regional bank and one of the leading national title insurance providers. For reasons unknown, Kevin decided to leave the safety and serenity of his desk job to seek fortune and glory as a wandering adventurer. Like a bank compliance version of Kwai Chang Caine, The Man with No Name or Don Quixote, he now travels the land seeking to help those in need and righting compliance wrongs, wherever he may find them. Kevin lives in Sioux Falls with his two children, who are surprisingly normal after having endured their father’s vivid imagination for their entire lives. He won’t admit to having any hobbies, because apparently “Regulations never sleep.” (While he does say this in his Batman voice, we’re pretty sure he’s joking.) From the looks of his Facebook page, he likes the outdoors and spending time with his large extended family (who seem like relatively normal people).

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