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Regulatory Report: Financial Services for CBD Companies in the US

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  • 12 Pages
  • March 2021
  • Region: United States
  • CBD Intel
  • ID: 5311244
The problems with cannabis-related businesses obtaining banking and payment processing services have been well documented. The issue has led many dispensaries in states with legalised cannabis to operate on a cash-only basis, leaving their employees at risk of being robbed. However, the problem runs much deeper than cannabis dispensaries and uniquely affects the CBD industry. The Bank Secrecy Act (BSA) of 1970 requires financial institutions to assist federal agencies in detecting and preventing money laundering.

This report addresses the reasons why the problem persists, what can be done in the current climate, and what might be done to address the problem.

Table of Contents

  • Introduction
  • Legal background
  • Some guidance provided
  • CBD more problematic than cannabis?
  • CBD product type matters
  • How big is the problem?
  • What can be done now
  • Long-term solutions
  • Regulatory guidance needed


General Methodology/Sources

  • Consumer and market participant (manufacturer/brand) surveys.
  • Consolidation of publicly available information.
  • Legal tracking through legal database checking and sourcing information from government regulators and other law-making bodies.
  • Pricing and product information from online and offline retail data gathering, including local fieldwork teams.
  • Findings from key industry events and interviews with leading market players and opinion leaders.
  • Partnerships with leading research agencies.
  • Quantitative and qualitative research and client collaborations.
  • Cross-referenced data between markets.
  • Tamarind Media proprietary market model.

Please note that each report has its own methodology, so you should always refer to the methodology applied in the report you purchase.