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)
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.
- 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!
1.0 CPE Credits & 1.2 AAP Credits