Whether banks knowingly work with marijuana businesses or not, they face risks as long as there are no federal clear guidelines in place. Congress must fix this.
Chris Marshall, a former CFO at Capital Bank Financial, will help Tax Guard recruit bank and nonbank clients. The firm uses technology to let lenders know if potential clients owe money to the IRS.
Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.
Attorney General Jeff Sessions’ decision to rescind an Obama-era directive that helped foster the marijuana sector’s growth raises new risks for banks and credit unions that do business with growers and dispensaries.
Scott Page, CEO of CoBiz Bank, will retire in a few days. He will be succeeded by Steven Bangert, the company's chairman and CEO. The company's chief financial officer will also become its chief operating officer.
