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Aaron P. Kouhoupt

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Aaron Kouhoupt offers a unique perspective shaped by more than 15 years’ experience as both in-house and outside counsel to banks, FinTechs, and other financial institutions of various sizes and formats. He serves as the firm's Chief Privacy Officer, and has authored content related to banking developments in the cannabis space.

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The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the banks and credit unions that see opportunity and challenges in transacting in the legal marijuana space. Legality varies by use and by state, while federal law limits how financial institutions can operate.
Continue Reading What Would Cannabis Rescheduling Mean for Lending and Payments Legality?

The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult-use and medical marijuana unless it’s produced, sold, and used within the regulations of the Controlled Substances Act. Banks and other financial institutions may have questions on how these changes could affect their ability to service cannabis businesses.
Continue Reading Marijuana Reclassification Impacts Bank Servicing of Businesses

On May 16, 2024, the U.S. Drug Enforcement Administration (DEA) released the proposed rule (Proposed Rule) to reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). The Office of Legal Counsel (OLC) also provided a memo to the Department of Justice (DOJ) supporting the DOJ, which oversees the DEA and grants the DEA authority to make rules under the CSA to the DEA.
Continue Reading Rescheduling Marijuana FAQs: How Do I Submit Comments on DEA’s Proposed Rules?

In late August, the U.S. Department of Health and Human Services announced that it would recommend moving marijuana from Schedule I to Schedule III of the Controlled Substances Act. In this episode, corporate cannabis attorney Daniel Shortt moderates a discussion with tax attorney Douglas Charnas and financial services regulatory attorney…

Continue Reading Podcast: Tax and Banking Implications of Rescheduling Marijuana

The Conference of State Bank Supervisors (CSBS) has sent letters to the U.S. House of Representatives and the Senate, stressing the importance of providing safe harbor for financial institutions offering financial products and services to cannabis or cannabis ancillary businesses under the proposed Secure and Fair Enforcement (SAFE) Banking Act.
Continue Reading Will the Push for a Bank Safe Harbor on Cannabis Succeed?

Featured Podcast Episode

Securing Retail Space for Your Cannabis Business (Episode 2 of 2)

Obtaining retail space for any small business is a big move. There are many issues to consider, and working with a knowledgeable real estate lawyer helps to avoid surprises down the road. This episode discusses licenses for retail space for cannabis businesses from the landlord and tenant perspective. Hosts also review issues unique to the cannabis business when renting retail space.