Understanding Marijuana Business Compliance for the Board

Are you offering deposit accounts or loans to marijuana- or hemp-related businesses? What does the board need to consider? What are the compliance requirements? Learn the details necessary to make an informed decision with this timely program.

Thirty-three states have now legalized some form of marijuana. In addition, the Hemp Farming Act of 2018 legalized industrial hemp and hemp-derived CBD at the federal level – creating an entirely new industry with accountholders in need of deposit accounts, loans, and other financial products. Will your institution provide services to marijuana-related businesses? Hemp-related businesses? Both?

Many financial institutions are hesitant to serve these businesses due to perceived risks and confusion about marijuana- and hemp-related laws. Where do you start? What are the risks? What initial and ongoing due diligence and reporting will be expected? This session will answer these questions and more.

Attendance certificate provided to self-report CE credits.

• Sample BSA policy language
• Sample BSA risk assessment, incorporating MRBs and HRBs
• Red flags for marijuana-related businesses
• Employee training log
• Interactive quiz