Publication

Offit Kurman Featured in The National Law Journal

Marijuana at the Polls Poses Headache for Regulators, Catnip for Firms

Voters in California and four other states on Tuesday could open a wider door to legalized recreational marijuana, posing substantial regulatory challenges and deepening the tension between state and federal drug laws.

Due diligence requirements outlined by the federal government are costly for banks and don’t shield them from liability if they do something wrong in handling pot clients’ money, said Darren Weiss of Offit Kurman’s Baltimore office. Banks often segregate marijuana money from other funds, a process that makes it more expensive to process drug money than transactions from other businesses.

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ABOUT OFFIT KURMAN

Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 120 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eight offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.

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