Illinois Banks Could Work with Medical Marijuana Companies

The U.S. Attorney for the Northern District of Illinois publicly stated that Illinois banks will not be targeted for prosecution if they accept money from marijuana businesses. Zach Fardon just says that banks have to carefully abide by state laws.

Fardon’s words echoed the 2013 memo from U.S. Deputy Attorney General James Cole. Which directs prosecutors to prioritize cases where children have access to marijuana. Also cases involving gangs, cartels, violence, stoned driving or the sale of other illegal drugs. These eight areas should be the focus and not businesses within the marijuana industry that are adhering to strict state standards.

Still, Fardon recognizes that banks have “legitimate concerns” but should be okay if they are “transparent.”

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Quantum 9, Inc. is a Chicago, IL-based cannabis consulting firm. We specialize in getting high net worth individuals and private equity cannabis business licenses to cultivate, manufacture and dispense marijuana. We have over 50 marijuana consultants that work for the company, and we have practiced in 12 countries. Our areas of expertise include permit acquisition, team building, employee training planning, and process planning. We help clients fully maximize the potential of any cannabis cultivation, processing, and dispensary business.