According to a report from Reuters, regulators at the federal Financial Crimes Enforcement Network (FinCEN) were not informed about Attorney General Jeff Sessions’ cannabis policy change but FinCEN spokesperson Stephen Hudack said the agency’s 2014 guidance “remains in place.”

According to September 2017 data from FinCEN more than 300 banks and nearly 100 credit unions are currently providing banking services to cannabis industry operators under the agency’s guidance. The 2014 FinCEN guidance was developed with input from Justice Department officials at that time; however, it also relied on the protection offered by the now-invalid Cole Memo.

Representatives Dennis Heck (D-WA) and Ed Perlmutter (D-CO) told Reuters that they will be sending a letter to FinCEN this week asking them not to rescind their guidance – which could “inject uncertainty into financial markets.”

In October 2016, FinCEN reported that 318 cannabis businesses were allowed access to banking services and that figure jumped to 400 at the end of August 2017, where it remained in September. The number of institutions dealing with the cannabis industry has been steadily increasing since the second quarter of 2014 – the quarter after the FinCen policy changes.

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  • Hay & Associates

    We are a full-service Accounting firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly.

  • New Approach Bookkeeping LLC

    New Approach Bookkeeping provides cannabis companies with their day-to-day, monthly, quarterly, and yearly financials. Our services include full cycle bookkeeping, HR business consulting, cash management, and payroll services for the cannabis industry. We have over 3 years experience and understand the 280e publication and how it affects all entities of the cannabis industry.

  • CORE Security Solutions

    CORE Security Solutions, Inc. provides security services to a wide array of clients, including the rapidly growing cannabis industry. We are fully licensed and insured by the California Bureau of Security and Investigative Services (BSIS). We currently provide security services to several local cannabis dispensaries in the Bay Area and secure transport and delivery services for cannabis products and proceeds throughout California. Our security specialists are all licensed and our transport vehicles are equipped with secure storage and GPS tracking.

  • Headset

    Headset is the first real-time business intelligence and analytics service for the cannabis industry. We are a data-driven cannabis tech company and we’re passionate about helping the industry succeed. Our services cover an array of specialized needs that businesses in the industry have, be they growers, extractors, processors, or retailers.

  • Sapphire Risk Advisory Group

    Sapphire is an organization of professionals whose careers are centered on the science of preventing crime and increasing pro-business results through the implementation of controls and processes. Our vision is to create environments that are crime adverse due to strategic planning and foresight. Sapphire will be in your corner with advice and counsel as long as your organization is continuing to grow.

  • TRIM Media House

    TRIM Media House is a full-service digital marketing agency with a heavy focus in visual content creation, website design, photography, and videography. If you are trying to navigate the digital arena when it comes to your brand, we would love to talk to you!

  • Green Fields Accounting

    We have a full bookkeeping service to help you keep your financial statements compliant. We are also experts in taxation. We keep informed of all the latest industry tax changes. We are also Enrolled Agents who are experts in defending our clients in audits with the IRS. We can also help with sales and excise taxes applicable to your business. We will make sure you understand Form 8300 and take care of the e-filing of this form.

  • Cannabis Tax Solutions

    We are Cannabis Industry Financial Experts helping CEO's transform their business by saving tons on taxes, increasing cash flow, enhancing margins, and improving processes. We go beyond Section 280e issues; your problems are our solutions.

  • Portable Smoke

    Portable Smoke is your online destination for purchasing portable discreet items for your smoking needs. We recognize that smoking may be a discreet and a recreational activity to participate in alone or with trusted friends. As a result, we specialize in selling grinders and bowls that you can hide right under everyone’s nose.

  • Diamond Business Loans

    Diamond Business Loans, is a Direct Lender, Syndicate, and Brokerage. Whether you need to get new equipment, finance your accounts receivable and inventory, raise working capital, or acquire a company, DiamondBL.com can do it all. From StartUps to well-established businesses, we have a financing solution for you. Please contact us today for a free, no obligation analysis of your financing needs.

  • Nutraceutical Facility Solutions, LLC

    Nutra FS is a full-service cannabis facility planning and construction management firm. We create successful plans for various permit applications, including administrative, conditional use, building, health, and fire. Our diverse team will help carry you through to your project realization with services offered for cGMP, feasibility, design/build, workflow efficiency, technical writing for local and state applications. You have a vision. We have a solution.

  • My Cannabis Accountant

    We are a Boutique Accounting firm focused on the cannabis industry. Our management team has over 100 years of combined experience in public accounting. Running a legal cannabis-based business can be complicated. Let us make sure your business is compliant with all federal, state and local financial regulations so that you can focus on your business.

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