Banking, Compliance, and the DOJ Hearing for Cannabis Rescheduling

Once again we welcome back Nick Richards, Partner and co-chair of the cannabis law practice group at Greenspoon Marder about how the cannabis and hemp industries currently face a complex landscape defined by existential regulatory threats and critical federal proceedings. Financial institutions are increasingly wary, with potential hemp reclassification jeopardizing banking access and subjecting businesses to high-risk compliance hurdles.

Meanwhile, industry experts are closely monitoring the upcoming DOJ administrative hearings, which represent a pivotal, though non-binding, opportunity to challenge Schedule I status for cannabis. Despite concerns over limited transparency and the exclusion of key industry advocacy groups...