Feds issue more guidance on marijuana banking, but legality remains unclear

The Obama administration issued new guidance Friday for banks that would consider taking money from marijuana businesses in states where it’s legal. The Justice Department and the Treasury issued separate advisories outlining eight conditions under which it “may not be appropriate” to prosecute banks that accept marijuana proceeds. It remains unclear whether this will be the nudge the banking industry needs to get into business with an industry that has the potential to generate billions of…