Tuesday, February 18, 2014

Federal Justice Department Memos Regarding Banking and The Marijuana Industry



Attached are the two federal memos issued last Friday (link below) on banking and the marijuana industry. Basically, while US AG Holder said he wants to fix the problems with banking, this memo still suggests banks are exposed to significant oversight and risk when dealing with marijuana businesses. The bottom line is we must fix federal law. Perhaps there is some good news here in the sense that it says if businesses are not violating one of the 8 priorities in the Cole memo from last fall, they will not be the target of any investigation/prosecution. Contact me if you have any questions. Thanks,
Sean T. McAllister, Esq.
McAllister Law Office, P.C.
36 Steele St., Suite 200
Denver, CO 80206
(Ph) 720-722-0048
(Fax) 720-542-8391
(Em) sean@mcallisterlawoffice.com
www.mcallisterlawoffice.com
Offices in Denver and Summit County