WASHINGTON, DC (April 23, 2026) |
The Defense Credit Union Council (DCUC) issued a statement following today’s decision by President Donald Trump to move medical marijuana from Schedule I to Schedule III under the Controlled Substances Act. DCUC recognizes this decision as a meaningful step toward aligning federal policy with economic and legal realities across the states.
“For decades, credit unions have operated under a complex and often contradictory framework, serving businesses that are legal under state law while navigating significant uncertainty at the federal level. That tension has left many institutions cautious, limiting access to financial services for legitimate, state-licensed cannabis-related businesses,” remarked Jason Stverak, DCUC Chief Advocacy Officer. “Today’s action begins to ease that long-standing conflict.”
By recognizing accepted medical use at the federal level, rescheduling may help reduce compliance ambiguity surrounding anti-money laundering obligations and the Bank Secrecy Act. For credit unions regulated by the National Credit Union Administration, this shift signals movement toward a more workable environment for evaluating relationships with lawful, state regulated businesses.
However, DCUC notes that rescheduling alone does not resolve the core challenges.
“The policy change does not immediately eliminate regulatory risk, examiner uncertainty, or the significant compliance burden institutions face when considering entry into the cannabis banking space,” adds Stverak. “Implementation will require additional rulemaking, guidance, and coordination across federal agencies, including the Department of Justice and the Department of Health and Human Services.”
As a result, most credit unions are expected to continue a measured approach. While larger and more sophisticated institutions may explore expanded engagement, others will remain on the sidelines until clearer protections and supervisory expectations are established.
“That is why DCUC continues to point to the SAFE Banking Act and similar proposals as essential next steps. The legislation would provide explicit statutory protections, reduce the risk of inconsistent enforcement, and establish uniform standards across federal regulators. Without it, uncertainty will persist, even as policy at the classification level evolves,” Stverak explains.
DCUC recognizes the importance of ensuring that lawful businesses have access to transparent and secure financial services within a stable regulatory framework.
“Today’s decision represents real progress and a significant shift in federal posture. But it is not the final step,” adds Stverak. “True clarity, and full participation by credit unions in serving this emerging sector, will require Congress to act to establish durable, consistent protections that match the evolving policy landscape.”