Cannabis Economy Lags Behind Legalization

August 28, 2015 – Media Mention
Institutional Investor

Richard Morris was quoted in Institutional Investor about the marijuana banking industry and confusing guidance issued by FinCEN last year to help the burgeoning marijuana industry, banks and credit card companies start to reconcile their practices and expectations. “All of this is prosecutorial guidance, so it can change,” said Morris. “It’s sort of like dealing with a permission that could be revoked at any time. What’s proper today may not be proper tomorrow, so I can’t tell [a prospective banker] they won’t be a target.”