What is the marijuana Cole Memo and is it important?

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Question:

I’m trying to understand the marijuana “Cole Memo” because my bank is thinking about banking cannabis customers. Is there more than one Cole Memo, and is it even still effective? It seems like a mess!

Answer:

It IS a mess! As if cannabis banking wasn’t (ahem) hazy enough, the Cole Memos (there are two of them) are the victims of political posturing. Originally issued by the Department of Justice, they technically are not effective anymore, but their principals, known as the “8 Cole Memo Priorities” live on robustly. In fact, they are the cornerstone of any compliant cannabis banking program. You must understand them, what they mean, and how they are enforced!

Learn about the Cole Memos and much, much more at the upcoming webinar “Top 10 Cs of Cannabis Compliance” on February 21, 2024!

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Learn more about Rebekah Leonard's
Top 10 Cs of Cannabis Compliance webinar.