Description
We’ll talk about potential federal legislation and its chances. What will this mean? Will it be full legalization across the country or something lesser? What are the risks if you operate in multiple states? How will regulators treat these types of activities and what are the expectations from an AML standpoint? And do bankers need to turn into biochemists to figure all this out? We’ll provide the current lay of the land so every institution can make an educated decision on what it wants to do and how to plan
Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts
Covered Topics
- The current state of banking MRBs (Marijuana-Related Businesses)
- State legislation and legalization
- Different styles of legalization – it’s not all the same
- FinCEN and DOJ guidance – from the Cole memo to more recent guidance and best practices
- Completing SARs for cannabis activities
- Various federal legislation proposed over the years, and how it might impact future legalization
- Hemp guidance from the agencies
- USDA rules of hemp production
- How all this impacts your institution and important decisions to make
Instructor Bio
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
