Feds Issue New Banking Regulations for MJ-Related Businesses – But California May Not Be Eligible Due to Lack of State Licensing
Cal NORML News Feb 14, 2014 The Dept of Justice has announced new federal guidelines for providing financial services to marijuana-related businesses under the Bank Secrecy Act : “BSA Expectations Regarding Marijuana-Related Businesses.” The guidelines repeatedly call on financial institutions to check for state licensing. Because California doesn’t have a state licensing system, only local …