Skip to main content
A Better Partnership


Apr 2021
April 08, 2021

Warner Talks Cannabis with Crain's Detroit Business

Rodney Martin, an attorney with the law firm Warner Norcross + Judd LLP, discussed cannabis banking regulations in a Crain's Detroit Business article.

The Financial Crimes Enforcement Network issued guidance in 2014 to banks and credit unions that choose to service cannabis businesses. The financial institution are obligated to verify where a marijuana business is licensed, monitor their accounts for unexpected growth in deposits, which may indicate illicit activity, and file regular monitoring paperwork to root out money laundering.
According to Martin, the paperwork obligations can be onerous. "When I meet with financial institutions thinking of getting into the business of serving marijuana, I stress that the due diligence and reporting obligations are significant and pose a real risk if not done correctly," he said in the article.
Crain's Detroit Business subscribers can read the full article here.
Warner's Cannabis Industry Group includes attorneys from more than a dozen different specialties to help businesses navigate this rapidly evolving area of law. Warner assists clients in licensing and regulatory compliance, investment guidance and security offerings, entity formation, real estate and zoning, environmental, labor and employment, insurance, tax, trademark, litigation and criminal defense.
The firm's cannabis resource page, including a video series on related topics, is available here.
About Warner
By providing discerning and proactive legal advice, Warner Norcross + Judd builds a better partnership with its clients. Warner is a corporate law firm with 230 attorneys practicing in nine offices throughout Michigan: Grand Rapids, Detroit, Midland, Macomb County, Muskegon, Kalamazoo, Holland, Lansing and Bloomfield Hills. To learn more, visit, follow us on Twitter @WNJLLP or connect on Facebook or LinkedIn.

# # #

NOTICE. Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you.

By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you.

Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.



+ -