Billions of Dollars at Risk of Being Unbanked


The Financial Crimes Enforcement Network was blindsided January 4, along with the rest of the country, when Attorney General Jeff Sessions rescinded the Cole Memo.

FinCEN relied heavily on the Cole Memo for guidance and claims that the current guidelines will stay in place. Despite this assurance, the actions by Sessions could lead to billions of dollars being withdrawn from the approximate 400 banks that do business with cannabis companies.


Financial Crimes Enforcement Network Blindsided by U.S. Justice Department

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: