Calif. Pot Regulators Float Bank Disclosure Rules

Law360 (January 15, 2021, 5:02 PM EST) -- California cannabis regulators on Friday proposed regulations implementing a new state law intended to ease access to financial services for businesses, codifying the types of otherwise confidential information the state can release at the request of licensees. 

The rules floated by the Bureau of Cannabis Control, California Department of Food and Agriculture, and California Department of Public Health, which together regulate the marijuana industry, will implement A.B. 1525, an October bill clarifying that banks and accountants who work with the cannabis industry are not violating California law.

Most banks will not serve cannabis businesses because the drug remains illegal under federal...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!