Since State Question 788 was introduced in 2018, nearly 400,000 patient and commercial licenses have been issued across the state of Oklahoma for either the consumption or distribution of medical cannabis. While revenue from the cannabis industry has steadily increased, federal legislation to provide banking services to cannabis businesses, such as the SAFE Banking Act of 2021, has stalled in Congress. Attorneys Joel W. Harmon and Zane Anderson discuss the approaches banks are taking to comply with federal banking regulations and lay out the best practices for businesses wanting to enter the competitive cannabis market in Oklahoma.
About Joel W. Harmon and Zane Anderson