Choosing whether or not to bank marijuana-related businesses, is a decision to be made by a financial institution’s management and Board of Directors after assessing the potential risks involved. Back in 2014, FinCEN issued Guidance on the “BSA Expectations Regarding Marijuana-Related Businesses”. It stated, …In general, the decision to open, close, or refuse any particular account or relationship should be made by each financial institution based on a number of factors specific to that institution. These factors may include its particular business objectives, an evaluation of the risks associated with offering a particular product or service, and its capacity to manage those risks effectively. Thorough customer due diligence is a critical aspect of making this assessment.
Before this determination can be made, however, institutions need to understand that the definition of a marijuana-related business is very broad and can encompass more than just those that manufacture or sell marijuana products.
Kevin explains more in the video.
Published 2026/05/06
