Articles Posted in cannabis banking

Marijuana Delivery Firm Accused of Fraud in Payment Processing Lawsuit
Cannabis Law Group

Two cannabis delivery companies – one Californian, one Canadian – are facing off in a San Francisco civil lawsuit involving customer payment processing fraud. The Toronto-based firm is accusing the other of carving an unfair market advantage by using European shell companies to illegally processing customer payments via credit or debit card. By processing both…

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Banking Regulations Leave the Marijuana Industry Subject to Violent Crime
Cannabis Law Group

Federal banking regulations have made the operation of a cannabis business both a complicated and dangerous proposition. Because cannabis is still classified as a Schedule I drug under federal law, any transactions made at a cannabis business operating lawfully under state law are, nonetheless, considered illegal drug money under federal law. This is a problem…

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