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Course Details

Course Information
  • smart_display Format

    Live Online with Live Q&A

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Banking and Finance

Date & Time
  • event Date

    Wednesday, November 12, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Early Bird Pricing!
MSRP
$347.00
$294.95
Save $52.05

Discount expires 10/15/25

This course is $0 with these passes:

CLE
ALL

This CLE course will examine banking issues presented by the conflict between various states' legalization/decriminalization of cannabis and federal law treatment of it as a controlled substance. The panel will discuss regulatory and enforcement risks associated with financing and taking deposits from cannabis-related businesses (CRBs) and best practices for mitigating those risks. The panel will also discuss recent legislative and regulatory developments relating to certain banking activities with CRBs.

Faculty

James K. Landau
Partner
Lachtman Cohen & Belowich LLP

Mr. Landau’s practice focuses on providing day-to-day business counseling to cannabis and other businesses with an eye toward avoiding problems before they arise. He also represents clients in litigation before federal, New York State, and local courts and other tribunals, including arbitration and mediation before the American Arbitration Association. Mr. Landau is a thought leader in the cannabis legal community. He frequently writes and speaks on such topics as attorney ethics, cannabis banking and licensing of cannabis businesses. He is Chair of the Ethics Committee of the Cannabis Law Section of the New York State Bar Association and Co-Chair of the Cannabis and CBD Litigation Committee of NYSBA’s Commercial and Federal Litigation Section. Mr. Landau is also a Founder and Immediate Past Co-Chair of the Westchester County Bar Association’s Cannabis Law Committee and a Director and Chair of the Regulatory Committee of the Hudson Valley Cannabis Industry Association. 

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Description

While medical use of cannabis is legal in 40 states and recreational use is legal in 24 states and Washington, D.C, cannabis remains illegal at the federal level under the Controlled Substances Act (CSA). Many financial institutions will not provide banking services to CRBs due to this conflict between state and federal laws. Bank counsel must be able to navigate the regulatory complexities created by this conflict in advising banks doing business with CRBs.

Banks face inconsistent regulatory approaches taken by different administrations and different federal agencies. FinCEN issued FIN-2014-G001 to clarify how financial institutions can provide services to CRBs and set forth reporting requirements, including suspicious activity reports (SARs). The Treasury Department has indicated that FIN-2014-G001 remains in place, even though the Cole Memo, which correlated to FIN-2014-F001, was rescinded in 2018. Also, FinCEN has recently shown it will continue to enforce its 2014 Marijuana Bank Secrecy Act Guidance.

Before taking deposits or transacting business with CRBs, financial institution counsel must understand the relevant Bank Secrecy Act and anti-money laundering (AML) issues and fully comply with federal Know Your Customer (KYC) requirements. Lending to a CRB is risk-inherent because cannabis remains a Schedule I drug under the CSA. Enforcement rights for lenders may be curtailed by limiting loan enforcement remedies only to state law and in state court.

The Secure and Fair Enforcement (SAFE) Banking Act, which was introduced in 2023, prohibits federal banking regulators from penalizing banks and credit unions for serving state-legal cannabis businesses. Despite a great deal of momentum in the House, this Act did not ultimately become law and has now been reintroduced in 2025 as the Secure And Fair Enforcement Regulation (SAFER) Banking Act. The SAFER Banking Act is now the primary legislation for federal cannabis banking reform in 2025, and it offers a legal framework for cannabis banking. Under the SAFER Banking Act, CRBs operating in compliance with state law would have access to checking accounts, loans, electronic banking, and other financial products.

Listen as our authoritative panel discusses these and other issues confronting banks that contemplate taking deposits or provide financing to CRBs. The panel will also discuss steps for banks and other financial institutions to avoid regulatory pitfalls and workarounds to resolve enforcement risks.

Outline

I. Legalization of cannabis at the state level: current status

II. Federal regulation

A. Controlled Substances Act

B. FIN-2014-G001 and the Cole Memo

C. DOJ vs. Treasury pronouncements

III. SAFE and SAFER Banking Acts

IV. Doing business with CRBs

A. Reporting requirements under FIN-2014-G001: SARs

B. Compliance with AML and KYC requirements and the Bank Secrecy Act

V. Enforcement issues

A. State level remedies

B. Issues in bankruptcy: federal jurisdiction


Benefits

The panel will review these and other key issues:

  • How have banks reacted to the legalization of cannabis in various states given its treatment as a controlled substance at the federal level?
  • What were the safe harbors provided under FIN-2014-G001 and the Cole Memo, and how have policy pronouncements by the Trump administration affected them?
  • What concerns should CRB lenders have in regard to remedies given the illegal nature of the underlying collateral under federal law?
  • Why is compliance with AML and KYC requirements especially important before taking deposits from CRBs?
  • What types of protections does the SAFER Act provide for banks and financial institutions doing business with CRBs?