Cannabis Banking; How to Bank it & How to Not

Cannabis Banking; How to Bank it & How to Not
The continuous changes in state marijuana laws, coupled with significant shifts in federal policy, have led to conflicting signals when it comes to banking marijuana-related businesses (MRBs). We will take a deep dive into the latest developments on MRBs, including reviewing the current state of marijuana regulations.
Speakers: Bob Hendricks, Warner, Norcross + Judd; Patricia Herndon, Michigan Bankers Association; Rodney Martin, Warner, Norcross + Judd; Brian Storey, Shield Compliance

Learning Objectives:
•Federal law vs. state law
•Licensing of adult use
•Steps to bank
•Steps to not bank
•Regulatory update
•Due diligence
•NCS system implementation
•Federal banking bill relief
•Federal legislative relief, SAFE Banking Act Status
•Industrial hemp and CBD and implications

With costs on the rise, bankers are seeking new sources of low-cost deposits and non-interest income. The legal cannabis industry can address these needs, but financial institutions must understand the risks and requirements involved. This session will help bankers:
•Understand the cannabis banking business opportunity and how it can fit into the bank’s larger strategy. This is not an easy business to bank, so there must be a clear connection to broader goals.
•Learn about the Michigan state cannabis law, FinCEN guidelines, and regulatory requirements,along with the do’s and don’ts for passing BSA exams.
•Evaluate the risks vs. rewards of cannabis banking, and how to manage compliance and operational impacts starting at the board level and down to daily operations.
10/11/2019 9:00 AM - 12:30 PM
MBA Education Center 507 South Grand Avenue Lansing, MI 48933 UNITED STATES

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