Firm News

Dove Presents on Lending to the Legalized Marijuana Industry at 2017 SLULaw Symposium

On Thursday, April 13, 2017, Douglas S. Dove was a featured speaker at the 2017 Saint Louis University Public Law Review Symposium entitled: “Up in Smoke: Demystifying the Medical Marijuana Movement in Missouri”. The Saint Louis University Public Law Review hosted a diverse range of scholars, from Lobbyists to Former DEA Special agents, to discuss the implications surrounding state legalization of medical marijuana.

Doug’s presentation, “Cash for Grass: Lending to the Legalized Marijuana Industry”, focused on the decision-making process that financial institutions go through when deciding whether to open, close or refuse an account or banking relationship with a marijuana-related business.

The program qualified for 4.2 hours of Missouri CLE credits and was co-sponsored by New Approach Missouri, Show-Me Cannabis, Missouri NORML, and Keeping Missouri Kids Safe. For additional information about the annual Saint Louis University Public Law Review, please visit the journal’s page.

Lending to the Legalized Marijuana Industry

Doug Presenting at the 2017 Saint Louis University Public Law Review Symposium

Program Description – Cash for Grass: Lending to the Legalized Marijuana Industry

Program Description:

Because of conflicting marijuana policies nationwide, it is increasingly important that banks seeking to provide financial services to marijuana-related businesses are conscientious of the difficult legal climate surrounding medical and recreational cannabis laws. Understanding the issue from the bank’s perspective will inform marijuana-related business owners about the due diligence requirements that can be expected in developing and maintaining a banking relationship, and obtaining much needed access to non-cash payment systems that banks offer.

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