Federal Guidance ‘Gives Comfort’ that Credit Unions Can Serve Licensed Marijuana Businesses, DFI Says

Guidance issued earlier this year by the Financial Crimes Enforcement Network (FinCEN) does not change federal law when it comes to providing banking services to marijuana businesses, Washington state regulators said Thursday, but “there is a difference between a law and a decision whether to enforce it.” DFI Director Scott Jarvis and Director of Credit Unions Linda Jekel made their comments at the NWCUA’s Leadership Symposium in Portland.

FinCEN ‘Unlocks the Door’ to Serving Marijuana-Related Businesses, Attorney Says

FinCEN’s guidance for credit unions that want to serve marijuana-related businesses certainly provides clarity, attorney Hal Scoggins writes, but it brings minimal regulatory relief.