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Cannabis Banking Issues - Where Do We Stand Now?

Discussion of the federal and state legal status of cannabis banking legalization, including various compliance requirements and risk management issues.

OnDemand
Recorded Thursday,
August 11th, 2022
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • BSA
  • Commercial/Business Lending
  • Compliance
  • Deposit Compliance
  • Fraud
  • General Compliance
  • Lending
  • Lending Compliance
  • Reporting
  • Risk Management/Legal
  • Bank Legal Counsel
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Commercial Lender
  • Compliance Officer
  • Internal Auditor
  • Risk Manager
  • Senior Management

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It seems like the question of the legality of banking cannabis businesses has gone on forever, but it is a complex topic. With the discussion in Congress of the Safe Banking Act and expanding legality on the state level (although of various degrees), is now the time for your institution to jump into the fray? This webinar will discuss the current state of affairs regarding cannabis banking, including hemp production.

We’ll talk about potential federal legislation and its (eventual) chances. What will this mean? Will it be full legalization across the country or something lesser? What are the risks if you operate in multiple states? How will regulators treat these types of activities and what are the expectations from an AML standpoint? And do bankers need to turn into biochemists to figure all this out? We’ll provide the current lay of the land so every institution can make an educated decision on what it wants to do and how to plan.

What You'll Learn

  • The current state of banking MRBs (Marijuana-Related Businesses)
  • State legislation and legalization
  • Different styles of legalization – it’s not all the same
  • FinCEN and DOJ guidance – from the Cole memo to more recent guidance
  • Completing SARs for cannabis activities
  • Various federal legislation proposed over the years, and how it might impact future legalization
  • Hemp guidance from the agencies
  • USDA rules of hemp production
  • How all this impacts your institution and important decisions to make"

Who Should Attend

This webinar is intended to anyone involved in the complicated decision to participate in the rapidly-growing cannabis industry. From Boards of directors to executive management, to compliance and risk professionals to attorneys, anyone seeking the current state of affairs on the legalization of cannabis banking activities will benefit from this session.

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Cannabis Banking Issues - Where Do We Stand Now? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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