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Katherine Schnack

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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

Featured Podcast Episode

Cannabis and Bankruptcy, Ep. 3: Considerations for Lenders

Starting a cannabis business is often discussed, but maintaining a business, particularly during a downturn in the industry, is a completely different ballgame. Pockets of the cannabis industry are experiencing financial distress, and this is generating fear and concern for marijuana licensees as well as their financiers and creditors.

In the third installment in our three-part series: “Exploring Issues in Cannabis and Bankruptcy,” we explore what the two recent decisions in Blumsack and Hacienda mean for creditors in the cannabis industry and also what rights are available to lenders and marijuana financiers in the bankruptcy context.