Will cannabis banking risk remain after federal recognition?
As I speak with bankers across the country who are considering launching cannabis banking programs, I am often asked about BSA/AML risk. Specifically, bankers want to know if they ...
The latest from Tony Repanich
Cannabis banking: How well do you know your members?
With the growth of legal medical and recreational cannabis programs across the U.S., a well-developed playbook has emerged which can help credit unions bank the cannabis industry more efficiently ...
Don’t skimp on board education
If you are wondering if or when to have the conversation about cannabis banking with your board, wonder no more. The time is “now,” says Ruth Razook, the founder and ...
Is your cannabis banking audit program up to snuff?
As new states pass cannabis legalization bills in increasingly rapid succession, credit unions must take steps to ensure they are adhering to the regulatory compliance requirements for this industry. Whether ...
Cannabis banking in 2021: Four trends to watch
Ongoing momentum for state and federal legalization, coupled with the economic impacts of the coronavirus pandemic, are reshaping how many credit unions are thinking about the cannabis industry. While it ...
Seeking an earning assets generator?
If there was a clear winner in this month’s election, it was cannabis. With strong majority support for ballot initiatives legalizing recreational cannabis in Arizona, Montana, New Jersey, and ...
Automate high-risk onboarding to gain a competitive advantage
One of the most challenging aspects of underwriting and validating high-risk accounts pertains to collecting, managing, and evaluating data. To adhere to the complex web of regulatory and compliance protocols, ...
Supporting the community and gaining a competitive advantage through cannabis banking
Credit unions are well regarded for their commitment to serving their communities. This often includes providing banking services to people and organizations that are traditionally underserved by financial institutions. As ...