How to match marijuana business with Illinois financial institutions

Lawyers' Forum

By Joseph E. Silvia

Joseph E. Silvia, a partner at Howard & Howard Attorneys PLLC, advises financial institutions and corporate clients on general corporate matters, mergers and acquisitions, strategic transactions, investments and banking and financial services regulation. He can be contacted at jes@h2law.com and (312) 456-3859.

Posted December 11, 2019 3:31 PM

Despite the rapidly growing number of jurisdictions where different forms of cannabis have become legal for medical or recreational use, banks, credit unions and other financial services providers continue to face a complicated puzzle of conflicting state and federal laws governing their activities in this area.At the federal level, some forms of cannabis have been legalized, such as industrial hemp; however, marijuana remains a Schedule 1 drug under the federal Controlled Substances Act. At the state level, we currently …

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