The number of banks and credit unions actively serving the marijuana industry has jumped nearly 30% from a year ago.

But U.S. Attorney General Jeff Sessions’ decision to repeal the Cole Memo may prevent further involvement by banking institutions looking to work with cannabis-related businesses.

According to the latest report issued by the Financial Crimes Enforcement Network (FinCEN), 400 depository institutions are providing services to marijuana businesses, up from just 51 in March 2014.

Full Article / Source: www.mjbizdaily.com