Dates of Event & Pricing

$295 for Webinar and Playback*

*Playback has no expiration.

  • Thursday, May 12, 2022

  • 2:00 – 3:00 pm (Eastern Time)

  • 1:00 – 2:00 pm (Central Time)

  • 12:00 – 1:00 pm (Mountain Time)

  • 11:00 – 12:00 pm (Pacific Time)

Curriculum

Struggling with how to onboard new hemp processors or growers?  Confused about CBD regulation? Measuring risk for hemp and CBD businesses can be particularly challenging for banks and credit unions entering this vibrant and innovative space. This information-packed cannabis banking webinar offers practical insights and guidance on developing a compliant and effective program for banking hemp and CBD-related businesses, with a focus on the risk assessment, onboarding, due diligence and monitoring. 

This bank compliance webinar starts with an update on legal and regulatory developments in the hemp and CBD sectors, including the FDA’s approach to regulating hemp-CBD products.  We’ll dive deep into the intricacies of banking hemp and CBD-related customers, covering key points of providing account relationships, loan products, and treasury management services. Learn winning strategies for effectively segmenting, risk scoring, and monitoring these customers and the 5-step process for an enhanced due diligence hemp and CBD banking framework.

Agenda

  • Update on legal and regulatory issues, including the FDA’s approach to hemp-CBD products 
  • What is expected in your risk assessment for banking hemp and CBD-related businesses 
  • How to identify bad actors in the hemp industry
  • Defining customer types
  • The challenges of customer due diligence, including risk stratification, risk assessment and scoring
  • What information needs to be documented in your risk assessment, ongoing reviews, and program document
  • How to effectively risk rate at account opening
  • Setting tolerance thresholds
  • Third party testing requirements 
  • The 5-step process for an enhanced due diligence cannabis banking framework


This cannabis banking webinar concludes with an open forum Q&A session. Got questions? Bring them!

Instructor(s)

Esq / Founder finreg PARTNERS

Dena Somers

Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.

Credits

1.0 CPE Credits & 1.2 AAP Credits