Ever wonder how financial institutions work with cannabis businesses?

A new comprehensive report, released by the Financial Crimes Enforcement Network (FinCEN), provides up-to-date details and a state-level breakdown.

FinCEN, a division of the U.S. Department of the Treasury, is offering new and expanded data on the state of banking in the marijuana industry under the prohibitionist status quo.

See Also: Biden Praises Oregon Gov For Cannabis Pardons

Meanwhile, congressional leaders are working to finalize a cannabis banking and an expungement bill, hoping to pass during the lame-duck session.

What Does The Data Say?

According to the federal report, the number of banks and credit unions actively working with cannabis businesses in the third quarter of the fiscal year 2022 was relatively stable: 784 financial institutions in the U.S. filed requisite Suspicious Activity Reports (SARs) for marijuana-related business (MRB) clients, reported Marijuana Moment.fincen.png

Image by Marijuana Moment

Additionally, starting this quarter, FinCEN is providing information on the types of SARs it …

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