News

Lawmakers Pen Sharp Critique of FinCEN’s Marijuana Guidance

Leaders of the U.S. Senate Caucus on International Narcotics Control sharply criticized the head of the nation's financial intelligence unit for issuing guidance on how banks can treat marijuana dispensaries. In a letter, Sens. Dianne Feinstein (D-CA) and Charles Grassley (R-IA) criticized Feb. 14 guidance by the Financial Crimes Enforcement Network (FinCEN) that outlined how banks can distinguish transactions related to dispensaries complying with state rules from transactions likely linked to drug traffickers violating state and federal laws alike. But the guidance, along with a U.S. Justice Department memorandum issued on the same day, gives tacit approval to the businesses,...

TO READ THE FULL STORY