• Safe Harbor Financial welcomed DOJ order moving qualifying state-licensed medical marijuana and FDA-approved cannabis products to Schedule III, effective April 22, 2026.
• Commentary flagged removal of IRS 280E burden for qualifying medical operators, citing prior effective federal tax rates of 70% or higher.
• Safe Harbor said stronger operator cash flow could support more stable deposits, better credit profiles, lower account churn.
• Company pointed to potential total addressable market expansion as more banks explore cannabis banking, positioning its managed compliance platform as beneficiary.
• Safe Harbor noted order does not cover adult-use cannabis, does not change Bank Secrecy Act or FinCEN-related compliance expectations for financial institutions.

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