Banking Services: Cannabis Businesses Face Access Challenges
What GAO Found In 2014, the Financial Crimes Enforcement Network (FinCEN)—a federal agency that helps combat financial crimes—issued guidance on how financial institutions can serve cannabis-related businesses (CRB) while complying with Bank Secrecy Act (BSA) requirements. This guidance instructs institutions to gather thorough information on CRB customers and file suspicious activity reports for certain transactions involving CRBs. Federal banking regulators help oversee institutions’ compliance with these requirements through BSA examinations. Financial institutions consider various factors when deciding whether to serve CRBs, according to GAO’s focus groups and interviews. Factors dissua.
Reported by Maria LopezBanking Services: Cannabis Businesses Face Access Challenges.
The item is dated Tue, 08 Sep 2026 07:24:33 -0400.
TeamCog is carrying it as a audits report from GAO reports and testimonies RSS.
What GAO Found In 2014, the Financial Crimes Enforcement Network (FinCEN)—a federal agency that helps combat financial crimes—issued guidance on how financial institutions can serve cannabis-related businesses (CRB) while complying with Bank Secrecy Act (BSA) requirements.
This guidance instructs institutions to gather thorough information on CRB customers and file suspicious activity reports for certain transactions involving CRBs.
Federal banking regulators help oversee institutions’ compliance with these requirements through BSA examinations.
Financial institutions consider various factors when deciding whether to serve CRBs, according to GAO’s focus groups and interviews.
Factors dissua…
Official Source
GAO reports and testimonies RSS. Accessed 2026-09-08T15:00:04.156Z.