Community Bankers for Compliance, Session III

$0/CBC Member; $375/Non-Member Tuesday, July 28, 2020 9:00 AM Register

Your health and safety is our priority. Due to the COVID-19 outbreak, this event will now be hosted on a virtual platform. 

If you have any questions, please don’t hesitate to contact Nick Loppnow at 608-441-1208 or nloppnow@wisbank.com

The third session of the Community Bankers for Compliance will cover: The SAR, Cyber Events, Marijuana, Hemp and its Impacts

The next quarter CBC subject will discuss the issues regarding the BSA Suspicious Activity Report (SAR). We will discuss the requirements and the form in detail. We will include all of the latest completion instructions.

Our primary focus for the day will be the “newer” issues surrounding the form - cyber event reporting, and your future decision making Marijuana / Cannabis / Marijuana Related Businesses. We will discuss their impacts on the form.

Although not yet legal in Wisconsin, banks need to consider the possibility of being asked to bank marijuana related businesses (MRBs), as it probably is only a matter of time before the legalization becomes a reality. We will discuss the decision process that needs to take place regarding these businesses, and the impact of these businesses may have on your bank, both operationally and for BSA.

While no longer illegal, we will also discuss issues that are important to review surrounding the propagation of hemp. As hemp farming expands, we need to be prepared to handle the issues that have impacts for the bank, both for compliance and safety and soundness.

These subjects were suggested by several CBC members when we requested potential topics for 2020.

The subjects for the regulatory update will be determined by circumstances and releases from the various agencies. The recent Regulation D change and its impact will be discussed, as well as any other update information.

Who should attend?

BSA Officers, Compliance Officers and Auditors should attend this session. In addition, all personnel with management responsibilities within the bank will likely have some hard decisions regarding marijuana in the coming years, and a portion of this presentation will not tell you what to do, but will tell you what questions you will have to answer. Senior management, lenders, loan origination and deposit origination personnel will find this portion of the presentation helpful.

Session III Agenda:

Day 1: July 28

9:00 a.m. to approximately noon:

  • Regulatory Update
  • The SAR - The Latest Instruction
  • The Impacts of Cyber Events on the SAR Process

Day 2: July 29

9:00 a.m. to completion (no later than noon):

  • The Impacts of Marijuana and Cannabis Business on the SAR Process
  • Management of Marijuana and Cannabis Businesses and the Uninteded Consequences for the Bank
  • Determining What Kinds of Marijuana and Cannabis Businesses to Bank
  • Issues That Need to be Considered Regarding the Propagation of Hemp

$0/CBC Member; $375/Non-Member Tuesday, July 28, 2020 9:00 AM Register