California Cannabis: Department of Business Oversight Issues Somewhat Helpful Guidance to Financial Institutions
Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines. The memorandum is in the form of an extensive questionnaire. The […]