CFTEA

Marijuana and Hemp Update 2022, CAMS

$299.00

Code: O1199OD

Description

This is a 2022 update on hemp and marijuana 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.

As states move forward in both marijuana and hemp, federal law lags behind in the area of marijuana. Hemp on the other hand has been on 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 and marijuana? During this program, we will discuss how to check your state statutes, and understand where we are now both federally and on the state level with hemp and marijuana. As the federal government makes way for a new brand of hemp 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 2022 update on hemp and marijuana 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.  BSA Officers, Compliance Officers, Operations, Lending and Management will benefit from this session.

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

 

 

 

 

Covered Topics

  • Understanding the current USDA regulations on Hemp
  • Learn how your state law can impact the decision to bank hemp customers
  • What is FinCEN’s position on hemp? On marijuana?
  • What would be the BSA considerations and risk to our financial institution
  • Writing your hemp and marijuana policy
  • Build your questionnaire, risk assessment, CIP, Beneficial Ownership Procedures
  • Monitoring and measuring risk

What you will receive:

  • 50 state chart on marijuana and hemp

Instructor Bio

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.

 

 

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