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Growing Concerns (Banking & The Business of Marijuana)

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Community institutions have long been seen as a natural partner to small business. But when the business in question is selling marijuana, regulatory and reputational concerns have caused many institutions to steer clear.

Barack Ferrazzano Financial Institutions Group Partner and Regulatory Section Leader John Geiringer commented on the regulatory hurdles facing banks considering working with businesses associated with the marijuana industry. In "Growing Concerns," from the September/October 2017 issue of FMS forward magazine published by the Financial Managers Society (FMS), John addresses some of the issues facing banks in this area, including the reputational concerns of conducting business with an industry whose activities are still illegal under federal law. A former bank regulator and compliance consultant, John is a frequent speaker and author on issues surrounding banking regulations, examinations and enforcement actions.

Click below to read the full article on FMS forward.

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