This is a 90-minute webinar.
9:00 am – 10:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
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?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Define direct MRBs versus indirect MRBs
- Discuss risk-based approaches to due diligence, monitoring, and reporting
- Understand the requirements set forth in FinCEN guidance
- Distinguish between MRBs and legalized industrial hemp-related businesses
- Discover best practices for providing specific banking products and services to this industry
- Utilize provided tools to support your due diligence process
Although marijuana remains a Schedule I substance federally, as of November 2020, 34 states have legalized either medical marijuana, recreational marijuana, or both. This has created an entirely new, booming industry, packed with businesses who need deposit accounts, loans, and other financial products.
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? In this session we will address these questions, differentiate between marijuana-related and hemp-related laws, and map out the landmines. Let’s learn the facts so you can make an informed decision about whether to serve these businesses.
Attendance certificate provided to self-report CE credits.
WHO SHOULD ATTEND?
This informative session is perfect for branch managers, loan managers, BSA officers, compliance officers, and senior management.
- Red flags for marijuana-related businesses
- Industrial hemp/CBD Enhanced Due Diligence worksheet
- Sample Banking Marijuana-Related Businesses Policy
- Employee training log
- Interactive quiz
DON'T MISS THESE RELATED WEBINARS!
|"Banking & Lending to Cannabis Businesses:
Clarifying the Confusion & Avoiding Pitfalls"
October 22, 2020
"Ag Lending Compliance, Including Industrial Hemp"
September 24, 2020
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.