Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.
Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.
Sundie Seefried is high on pot banking. Hollywood is not so sweet on the former SBA head's bid for Weinstein Co. Another woman takes on Mick Mulvaney in court. And what's shushing women on Wall Street with stories to tell? Arbitration, for one thing.
If Congress doesn’t take the lead on protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.
Calling the move "depressing," Chairman Ken LaRoe said the decision to stop working with medical marijuana firms came after certain investors objected. Recent moves by the federal government cemented the call.
Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement.
Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.