Photo of Katherine Romano Schnack

Katherine Romano Schnack has authored content related to banking developments in the cannabis space. As a financial regulatory attorney with a particular knowledge of payments systems, Katherine advises credit unions, banks, fintechs, and processors on the complex liability, fraud, and compliance considerations at play, including the overlapping schemes of regulations and card network rules.

For financial institutions who engage in marijuana-related banking services, the primary compliance challenge remains the disconnect between federal and state law, as it is still illegal to manufacture, distribute, or dispense marijuana under the federal Controlled Substances Act (CSA).
Continue Reading Marijuana & Banking: What’s the Hold Up? Part 2 – Compliance Challenges