Although marijuana remains a Schedule I substance federally, thirty-four states have now legalized either medical marijuana, recreational marijuana, or both, and even more states are poised to pass legislation soon. 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.
Join us as we take the stigma out of banking cannabis-related businesses, and help you prepare your policies, procedures and best practices.
- Differentiate hemp-related, marijuana-related, and CBD businesses hemp
- Distinguish FinCEN’s recent guidance for conducting due diligence on hemp-related businesses and FinCEN’s MRB guidance
- Ask the “right” questions at account opening to avoid “discovering” a cannabis business long after the fact
- Update your compliance program, including risk assessment, monitoring, and training
- Discuss legislation on the horizon regarding banking marijuana-related businesses
- Use provided tools to establish your initial and ongoing due diligence for these accountholders
Who Should Attend?
This informative session will benefit loan officers, branch managers, operations personnel, BSA officers, and compliance officers.
Live Plus Five – $265
Register for the live event and get five days access to the OnDemand Playback. You’ll have opportunity to ask questions during the presentation and be free to review the content for the next five business days. Registration also includes links to presenter materials, handouts, and pdfs.
OnDemand Recording Only – $295
Includes a weblink for unlimited viewing for 6-months after the date of the webinar as well as a link to handouts. Does not include live session.
CD-ROM and Hardcopy Handouts – $345
CD-ROM plus Hardcopy Handouts. Does not include live session.
Live Plus Six – $365
Attend live; includes six months access to OnDemand playback. Combine the advantages of live attendance with an unlimited number of replays for the next six months.
Premier Package – $395
Includes all three options above. Live session, OnDemand Weblink, and CD-ROM plus Hardcopy Handouts.
Want your branches to participate? Facilities within your organization will be able to participate without the travel costs of coming to one location.