Skip to main content

Mathew Petersen Provides Insight on Challenges for Banks in Banking CBD Vendors

July 24, 2019

Spencer Fane attorney Mathew Petersen was recently interviewed for an article in Startland News explaining the risks and difficulties for banks to provide services to CBD merchants.

Titled “Into the weeds: Your corner CBD store might’ve just lost its bank thanks to a slow-to-innovate industry,” the article outlines the challenges banks face in providing services to CBD vendors, including CBD’s association with illegal marijuana, the difficulty identifying product source, and compliance with federal law.

“Likely if you are working with a reputable CBD merchant, it’s legal, but you can’t tell that without very closely monitoring that business,” Mat explained in the article.

To read the full article, please click here.