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Warner Norcross + Judd LLP is a corporate law firm with over 230 attorneys serving clients in nine offices throughout Michigan. Among the largest law firms in Michigan, Warner works in virtually all areas of business law.

Michigan Law Firm - Warner Norcross + Judd LLP

In this issue of Warner’s Legal News for the Cannabis Industry, attorney Rodney Martin provides an update on banking cannabis-based businesses. To date, approximately 700 banks and credit unions nationwide offer services to businesses operating in the cannabis space. In 2021, we did see a glimmer of hope as Congress passed a statute permitting financial institutions to provide services to cannabis businesses. However, proponents of the law wanted comprehensive reform to regulate the marijuana industry, creating a pause in forward momentum. As long as cannabis remains illegal under federal law, cannabis businesses will find it difficult to house deposits and get funding through a traditional bank or credit union – not impossible, however. View the video to learn more about what it takes for a cannabis-based business to establish and maintain a successful financial relationship with a bank or credit union.&nbsp;

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The Status of Marijuana Banking

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Look for additional Warner podcast recordings from Warner’s Cannabis Industry Group.

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Warner’s Legal News For the Cannabis Industry

Cannabis

Financial Institutions

Of Counsel

Rodney D. Martin

Regulatory and Compliance

Warner's Legal News for the Cannabis Industry

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The Status of Marijuana Banking

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