The Justice Department rescinded guidance on marijuana enforcement that directed federal officials not to interfere with states that have legalized the substance.
Attorney General Jeff Sessions directed all U.S. attorneys to enforce the laws enacted by Congress that generally prohibit the cultivation, distribution and possession of marijuana.
The Financial Crimes Enforcement Network’s 2014 guidance on Bank Secrecy Act expectations for servicing marijuana-related businesses remains in place for now, though questions remain about what the move will mean for the growing commercial marijuana industry.
Read DOJ Memo
Read FinCEN Guidance