Julie Andersen Hill, University of Alabama - School of Law

This article shows that while the Federal Reserve has some discretion over the payments it processes and terms under which it offers it payments services, the Fed’s discretion is not so broad as to allow it to reject access requests from legally eligible banks. If the Fed wants to exclude banks, it should ask Congress to change the law.
More “Current Scholarship
From Cannabis to Crypto: Federal Reserve Discretion in Payments”

Julie Andersen Hill

Marijuana-related businesses have banking problems. Many banks explain that because marijuana is illegal under federal law, they will not serve the industry.
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Cannabis Banking: What Marijuana Can Learn from Hemp”

Julie Andersen Hill

Although marijuana is illegal under federal law, twenty-three states have legalized some marijuana use. The state-legal marijuana industry is flourishing, but marijuana-related businesses report difficulty accessing banking services.
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Banks, Marijuana, and Federalism”