Former NBA Africa and Basketball Africa League Executive Aïcha Diop Joins African Collaborations Group (ACG) Advisory Board to Advance Sport and Entertainment Districts Across Africa
Many states have legalized marijuana in some form, but under federal law it remains a controlled substance. That conflict creates challenges when cannabis-related businesses seek banking and other financial services from federally regulated institutions. In this video, GAO Director Courtney LaFountain explains: • The federal guidance available to financial institutions serving cannabis-related businesses • Why banks must conduct enhanced due diligence and file additional reports • What financial institutions consider when deciding whether to serve the cannabis industry • Why cannabis businesses may face higher banking fees and limited access to loans • How restrictions on payment processing