Bradley partner Hunter Robinson was quoted in American Banker on cannabis regulatory potholes. Cannabis business may be a lucrative niche for banks, but banking pot-related companies come with regulatory risks and legal gray areas that keep many financial institutions away.
The availability of growing technologies that may assist banks in this industry is relevant for banks that are interested in banking cannabis companies, but they are not quite there.
“A lot of banks are sitting on sidelines and waiting for legislation on the federal level,” said Robinson. “For banks that know they will do this when they have legislative cover, the time to start preparing is now.”
The original article, “Tech helps banks navigate cannabis’ regulatory potholes,” appeared in American Banker on February 28, 2022 (login required).