Category: memo

More Than 40 Maine Lawmakers Sign Memo Urging Consideration of Marijuana Legalization

On Friday, more than 40 state lawmakers in Maine co-signed a memo authored by State Representative Diane Russell that was delivered to the Appropriations & Financial Affairs Committee. The memo encouraged the committee to keep all options on the table in their upcoming financial deliberations, including potential tax revenue derived from an adult, non-medical market for marijuana. “All options should be on the table,” Rep. Russell stated in the memo, “In this spirit, we propose committee members give serious consideration to the revenue options associated with legalizing, taxing and regulating […]

Departments of Justice and Treasury Release Marijuana Banking Guidance

Today, the Department of Justice and the Financial Crimes Enforcement Network division of the Treasury Department released long anticipated guidance to banks and other financial institutions on how they can interact with marijuana businesses that are licensed under state law. Under current regulations, financial institutions are required to file suspicious activity reports when they suspect the transaction has a drug connection. The new guidance creates a three tiered system for these reports: marijuana limited, marijuana priority, and marijuana termination. This will allow these institutions to work with marijuana businesses as […]

Arrived: DOJ Memo On Medical Marijuana

The Star-Ledger in New Jersey published the long awaited ‘clarifying’ memo on medical marijuana last night from the Department of Justice.
It appears from the letter that the Obama administration’s DOJ is going to continue to walk the fine line between allowing ’self preservation’ for medical cannabis patients (i.e., a patient can possess and cultivate […]