After This Webinar You’ll Be Able To:
- Differentiate marijuana-related, hemp-related, and CBD businesses
- Explain federal regulations to your board and management team to support their decisions about banking cannabis-related businesses
- Understand FinCEN’s guidance for conducting due diligence for cannabis-related businesses
- Ask the right questions at account opening to avoid “discovering” a cannabis business after the fact
- Update your BSA compliance program, including risk assessment, monitoring procedures, and training
- Address concerns lenders have regarding the unique nature of collateral for cannabis-related businesses
Although marijuana remains a Schedule I substance federally, 39 states have now legalized either medical marijuana, recreational marijuana, or both – and even more states are poised to pass legislation. 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.
Who Should Attend?
This informative session is designed for branch managers, loan managers, BSA officers, compliance officers, and senior management.
- Sample policy for banking cannabis-related businesses
- Sample due diligence worksheets
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Dawn Kincaid — Brode Consulting Services Inc
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently, Kincaid served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Kincaid has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.
- $279 – Live Webinar Access
- $279 – OnDemand Access + Digital Download
- $379 – Both Live & On-Demand Access + Digital Download