Cannabis Banking: Hemp, MRBs & CBD Business Update

Compliance Directors Frontline & New Accounts Lending Marketing Operations Security & Fraud Senior Management

On-Demand Webinar

StreamedApr 18, 2023Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

The cannabis industry is flourishing.

Banking these thriving businesses could be good for your institution, but are there remaining questions or concerns? This webinar will take the stigma out of banking cannabis-related businesses. It will provide best practices and sample policy to enable you to prepare your own policies and procedures.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Differentiate marijuana-related, hemp-related, and CBD businesses
Explain federal regulations to your board and management team to support their decisions about banking cannabis-related businesses
Understand FinCEN’s guidance for conducting due diligence for cannabis-related businesses
Ask the right questions at account opening to avoid “discovering” a cannabis business after the fact
Update your BSA compliance program, including risk assessment, monitoring procedures, and training
Address concerns lenders have regarding the unique nature of collateral for cannabis-related businesses

WEBINAR DETAILS

Although marijuana remains a Schedule I substance federally, 39 states have now legalized either medical marijuana, recreational marijuana, or both – and even more states are poised to pass legislation. This has opened an entirely new, booming industry, packed with businesses who need deposit accounts, loans, and other financial products.

Could a cannabis business open an account or borrow from your financial institution? Or does confusion remain regarding the difference between marijuana- and hemp-related laws? Where do you start? What are the risks? What due diligence is required? What about all the cash transactions, CTRs, and SARs? What reporting is expected? This timely session will address these questions, differentiate between marijuana-related and hemp-related laws, and map out the landmines. Learn the facts so you can make an informed decision about whether to serve these businesses.

WHO SHOULD ATTEND?

This informative session is designed for branch managers, loan managers, BSA officers, compliance officers, and senior management.

TAKE-AWAY TOOLKIT

Sample policy for banking cannabis-related businesses
Sample due diligence worksheets
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.