DOJ and DEA Reclassify State-Licensed Marijuana From Schedule I to Schedule III
Summary
The Department of Justice and Drug Enforcement Administration announced on April 23, 2026, that state-regulated marijuana products are now classified as Schedule III controlled substances under the Controlled Substances Act, down from Schedule I. The rescheduling reduces federal restrictions on medical marijuana and acknowledges state regulatory frameworks. A hearing is scheduled for June 29, 2026, to consider broader rescheduling of marijuana beyond state-licensed products.
Banks currently serving or considering serving state-licensed marijuana clients should reassess their federal legal exposure given this reclassification. The DOJ's statement signals a more permissive posture toward state-regulated marijuana, but banks retain independent authority to set their own service policies and should confirm their compliance frameworks reflect the updated CSA schedule.
About this source
GovPing monitors ABA Banking Journal Compliance for new banking & finance regulatory changes. Every update since tracking began is archived, classified, and available as free RSS or email alerts — 99 changes logged to date.
What changed
The DOJ and DEA have issued an order reclassifying marijuana products regulated by state medical licenses from Schedule I to Schedule III of the Controlled Substances Act. Schedule III drugs carry fewer restrictions than Schedule I substances and include examples such as testosterone and Tylenol with codeine. The action follows a 2024 proposal and fulfills a presidential executive order directing the attorney general to expedite marijuana rescheduling. The DOJ stated the order "recognizes the longstanding regulation of medical marijuana by state governments and the need for a common-sense approach to this reality."
Financial institutions that serve or are considering serving state-licensed marijuana businesses may experience reduced federal legal risk under this reclassification. Banks should review their controlled-substance policies, SAR-filing practices, and overall cannabis-banking risk frameworks in light of the DOJ's stated shift toward a more flexible enforcement posture. The June 29 hearing may provide further clarity on the scope of any additional rescheduling.
Hearing
- Date
- 2026-06-29
Archived snapshot
Apr 24, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
No Result View All Result
- Ag Banking
- Commercial Lending
- Community Banking
- Compliance and Risk
- Cybersecurity
- Economy
- Human Resources
- Insurance
- Legal
- Mortgage
- Mutual Funds
- Payments
- Policy
- Retail and Marketing
- Tax and Accounting
- Technology
- Wealth Management
- Subscribe
- Advertise
- Magazine Archive
- Newsletter Archive
- Podcast Archive
- Sponsored Content Archive
SUBSCRIBE
- Ag Banking
- Commercial Lending
- Community Banking
- Compliance and Risk
- Cybersecurity
- Economy
- Human Resources
- Insurance
- Legal
- Mortgage
- Mutual Funds
- Payments
- Policy
- Retail and Marketing
- Tax and Accounting
- Technology
- Wealth Management
- Subscribe
- Advertise
- Magazine Archive
- Newsletter Archive
- Podcast Archive
- Sponsored Content Archive No Result View All Result No Result View All Result Home Compliance and Risk # Agencies ease federal restrictions on state-regulated marijuana products
April 23, 2026 Reading Time: 1 min read The Department of Justice and Drug Enforcement Administration today announced they have reclassified marijuana and marijuana products regulated by state medical licenses as Schedule III drugs, which will expand their availability for medical purposes.
State-licensed marijuana is reclassified from Schedule I to Schedule III of the Controlled Substances Act by the order, which also initiates a new process to consider rescheduling marijuana more broadly. Officials in 2024 previously proposed reclassifying marijuana so it is no longer a strictly controlled Schedule I drug but instead a Schedule III drug, which has fewer restrictions. Examples of Schedule III drugs are testosterone and Tylenol with codeine. President Trump last year issued an executive order directing the attorney general’s office to expedite the rescheduling of marijuana.
In a statement, the DOJ said the new order “recognizes the longstanding regulation of medical marijuana by state governments and the need for a common-sense approach to this reality.”
The rescheduling only applies to marijuana products regulated by states. The DOJ and DEA will hold a hearing on June 29 to consider reclassifying marijuana more broadly as a Schedule III drug.
Tags: Marijuana Share Tweet Pin
Related Posts
Agencies finalize changes to community bank leverage ratio
Community Banking April 23, 2026 Federal banking agencies finalized interagency rulemaking to expand the eligibility criteria for the community bank leverage ratio, adopting changes first proposed last year without further revisions.
ABA supports issuance of ‘know your customer’ proposal for originating providers
Compliance and Risk April 23, 2026 ABA expressed its support for FCC Chairman Brendan Carr’s decision to schedule a vote on issuing a proposal that would impose stronger “know your customer” requirements on voice service providers that originate calls.
OFAC targets Southeast Asian scam center network
Compliance and Risk April 23, 2026 The Treasury Department’s Office of Foreign Assets Control sanctioned a Cambodian senator and 28 individuals for their alleged roles in running scam centers that defraud Americans. ABA applauded the decision.
Mortgage rates decline
Economy April 23, 2026 The rate for a 30-year fixed-rate mortgage was 6.23% this week. The rate for a 15-year fixed-rate mortgage was 5.58%.
FDIC issues relief guidance for Mississippi, Tennessee banks affected by storms
Compliance and Risk April 23, 2026 The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Mississippi and Tennessee affected by severe weather.
HUD, FHFA roll out plans for new credit scoring in mortgages
Mortgage April 22, 2026 HUD will adopt FICO 10T and VantageScore 4.0 for FHA loans. Fannie Mae and Freddie Mac will begin using VantageScore 4.0 immediately and the future use of FICO Score 10T credit scores for loans delivered to Fannie Mae.
NEWSBYTES
Agencies finalize changes to community bank leverage ratio
ABA supports issuance of ‘know your customer’ proposal for originating providers
OFAC targets Southeast Asian scam center network
SPONSORED CONTENT
Why Your Systems Keep Slowing Down — and What to Do About It
How leading banks are enhancing customer engagement through financial data insights
Check Fraud Is Outpacing Legacy Controls. What Banks Should Evaluate Now.
How top agricultural lenders are approaching AI, automation and innovation in 2026
PODCASTS
Podcast: ABA’s ecosystem strategy to tackle fraud
Podcast: Capitalizing on opportunities to serve high-net-worth clients
Podcast: Are credit union commercial loans risky business?
March 30, 2026
American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA
ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe
© 2026 American Bankers Association. All rights reserved.
No Result View All Result
- Ag Banking
- Commercial Lending
- Community Banking
- Compliance and Risk
- Cybersecurity
- Economy
- Human Resources
- Insurance
- Legal
- Mortgage
- Mutual Funds
- Payments
- Policy
- Retail and Marketing
- Tax and Accounting
- Technology
- Wealth Management
- Subscribe
- Advertise
- Magazine Archive
- Newsletter Archive
- Podcast Archive
- Sponsored Content Archive © 2026 American Bankers Association. All rights reserved.
CFR references
Mentioned entities
Related changes
Get daily alerts for ABA Banking Journal Compliance
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
Source
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from ABA Banking Journal.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when ABA Banking Journal Compliance publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.