Events

2019 Cannabis Breakfast Series: Banking the Cannabis Industry

May 2, 2019 at 8:00am10:00am
Preti Flaherty

One City Center, Penthouse Floor
Portland, Maine

Attorney Sara Moppin concludes our Cannabis Law Breakfast Series with a workshop focusing on challenges and opportunities faced by financial institutions banking marijuana-related businesses (MRBs).

This workshop is intended to assist those in banking, including executives, board members, legal counsel, commercial lenders, and compliance, anti-money laundering and risk officers. Your bank board and executive and compliance teams need to be fully informed to develop and decide your marijuana banking policy, regardless of whether your bank has elected to serve MRBs or to provide limited or no services to MRBs. Federal regulatory relief may be on the horizon, but even if not, research and diligence are still required to ensure that your bank or financial institution is in compliance with the confusing and conflicting mix of federal and state laws governing MRBs.

Workshop Topics Include

  • The Cole and Sessions Memos and FinCEN guidance
  • Banking MRBs in compliance with federal guidelines
  • The impact of the 2018 Farm Bill: removal of hemp from the Controlled Substances Act and the distinction between hemp and marijuana
  • The SAFE Banking Act of 2019 and other pending federal legislation to remove legal hurdles to banking MRBs
  • LD 1402 proposal to allow Maine-chartered credit unions to obtain private deposit insurance to provide financial services to Maine dispensaries and caregivers
  • What this all means for financial institutions and their cannabis customers

Click Here for more information or to register.  The workshop is complimentary but advance registration is appreciated.

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