Banking on Change: How Cannabis Financial Services Are Quietly Evolving Under Federal Prohibition

The latest data from the Financial Crimes Enforcement Network (FinCEN) reveals a fascinating trend: 816 banks and credit unions are now serving cannabis businesses as of the fourth quarter of 2024. More tellingly, 80% of the suspicious activity reports (SARs) filed about cannabis transactions are categorized as “marijuana limited” – essentially banker-speak for “this looks totally legit to us.”