Bank Law Monitor

Bank Law Monitor

A Legal Blog for the Financial Services Industry

Category Archives: Banking

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The Tension Between Financial Institutions and Recreational Marijuana Businesses

Posted in Banking, Marijuana
To date, eight states and the District of Columbia have legalized recreational marijuana. As you might expect, there are countless key players and businesses involved in the marijuana supply chain, including producers, processors, transporters, retailers, and in some jurisdictions, distributors. In Washington State alone, total sales since the state’s legalization of recreational marijuana have exceeded… Continue Reading

OCC Invites Fintech Companies to Become Special Purpose National Banks

Posted in Banking, Banking Technology
Last week, the Office of the Comptroller of the Currency (OCC) officially opened its doors to financial technology companies and encouraged them to apply to become “special purpose” national banks. The premise is simple—become a national bank, abide by the OCC’s rules and regulations, and so-called “fintech” companies can avoid much of the thicket of… Continue Reading