Banking relationships continue to be an extremely difficult strategic obstacle for legal and licensed Marijuana shops and related businesses.
However, GreenAML is researching and calling around to our fellow Bank Secrecy Act and Anti-Money Laundering colleagues in legal states, and gathering some valuable information on their programs, and improving our database of value-added services to MRB's.
Along with this research, we are finding more and more evidence that the FDIC, state regulators, and state Attorney Generals are utilizing the Cole/FinCEN memo's as guidance and are examining and following the lead of this guidance, and urging banks to bank them prudently, and safely and following the FInCEN guidance. This is exactly what the GreenAML patented methods were built on, with significant enhancements built for community banks.
Illinois: 'Careful' banks can invest in legal Illinois marijuana: : Update: Sorry Illinois, due to the governor stepping down, it doesn't look like Legal MMJ will be approved anytime soon! But GreenAML is here is you are still interested in setting up a program for the eventual approval...