It’s been a journey from the Farm Bill 2018 to the USDA regulations issued at the end of 2019. Where are we now? What is FinCEN’s position on hemp? During this program we will discuss, how to check your state statutes, understand where we are now both federally and on the state level with hemp. As the federal government makes way for a new brand of customers, we have to make decisions about banking hemp and what our policy and procedures would look like. FinCEN has BSA expectations but the good news is that these don’t include filing SARs on hemp customers and related businesses. This is a 2020 update on hemp and may help you shape your decisions about how to move forward as our states and government authorities set the parameters for banking this new industry.
The "Hemp Update! Many State Plans Now Approved" webinar has been approved for 2 CAMS credits. Credits are redeemable for Live attendance only. Users must connect to the webinar individually and enter their name and email for reporting purposes. Accreditation is valid for one year from the date of the event. To receive a certificate, email firstname.lastname@example.org.
- Understanding the current USDA regulations
- Learn how your state law can impact the decision to bank hemp customers
- What is FinCEN’s position on hemp?
- What would be the BSA considerations and risk to our financial institution
- Writing your hemp policy
- Build your questionnaire, risk assessment, CIP, Beneficial Ownership Procedures for Hemp growers and related businesses
- Monitoring and measuring risk
Who Should Attend?
BSA Officer, BSA staff, Compliance Officers, New Accounts, Loan officers and others who open accounts for hemp related businesses.
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.
- “Live” Web connection - $265
- 6-month “OnDemand” website link only - $295
- CD-ROM and e-materials only - $345
- Live plus OnDemand website link - $365
- Premier Package: Live, OnDemand link, and CD-ROM plus - $395