U.S. decision keeps Marijuana a Schedule 1 drug. Banking Marijuana Businesses (MRBs) remains a due diligence issue. MRB data available from NominoData

 

 

The federal government announced today that there will be no reclassification of Marijuana from a Schedule 1 drug to a Schedule 2 drug. This decision signals that there will be no immediate change pertaining to how Financial Institutions must administer accounts or customers  who are connected with legitimate marijuana commerce. The following is an article about this announcement: http://www.npr.org/2016/08/10/489509471/dea-rejects-attempt-to-loosen-federal-restrictions-on-marijuana

NominoData provides to the Financial Services industry the most complete dynamic data file for MRBs. The file includes information about all the registered legitimate MRBs in the 24+ disparate “legalized marijuana” states as well as information about the beneficial owners of the MRBs. For more information about this file, please contact Rob Goldfinger, President of NominoData at rgoldfinger@nominodata.com