USA: What Happens When a Cannabis Business Needs a Bank?
Watch at: https://www.gao.gov/video/what-happens-when-cannabis-business-needs-bank?utm_source=policy_decoded&utm_medium=email&utm_campaign=a-thousand-banks-and-not-one-penalty
gao.gov · · 1 min read
Video
Many states have legalized marijuana in some form, but under federal law it remains a controlled substance. That conflict creates challenges when cannabis-related businesses seek banking and other financial services from federally regulated institutions. In this video, GAO Director Courtney LaFountain explains: • The federal guidance available to financial institutions serving cannabis-related businesses • Why banks must conduct enhanced due diligence and file additional reports • What financial institutions consider when deciding whether to serve the cannabis industry • Why cannabis businesses may face higher banking fees and limited access to loans • How restrictions on payment processing lead many businesses to handle large amounts of cash • What challenges some cannabis-industry employees may face like obtaining mortgages
Date: Sep 08, 2026
Runtime: 00:04:09
Official release issued by gao.gov: read the original. Found by Cannabis Law Report.
Information, not legal advice. Check the primary source before relying on it.
