While regulatory guidance has been issued to guide institutions with exposure to the cannabis market, there are still many areas that leave officers searching for guidance on how to properly mitigate the risk posed by exposure to the cannabis market. Now, in 2022, the conversation is more open than ever as to which institutions in which states will choose to onboard the varying degrees of business customers involved in cannabis-related sales. Since then, many unique business lines have been developed as part of the expansion of the legal cannabis industry. Since the initial legalization of medical/recreational marijuana in California in 1996, the conversation has been open about how the legislation would affect financial institutions (FIs).
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