WASHINGTON DC – Federal officials have released updated data on the number of banks reporting that they work with marijuana businesses–and most financial institutions don’t seem especially concerned with their cannabis clientele.

The Financial Crimes Enforcement Network (FinCEN), which falls under the U.S. Department of Treasury, has been publishing data for years about suspicious activity reports (SARs) related to marijuana-related businesses. This latest batch shows relative stability in the willingness of banks to service cannabis clients even under federal prohibition.

But notably, the portion of SARs identified as “marijuana limited” stands at 80 percent. That term refers to cannabis businesses that appear to be operating in compliance with state law and meet the agency’s standard f

See Full Page