September 20, 2022, 2:45 pm - 3:45 pm
Steve will be speaking on the topic of How Financial Institutions Can Embrace Cannabis-Related Businesses.
The cannabis industry is a rapidly growing and evolving landscape. There’s plenty of opportunity for financial institutions in the cannabis space, but its constant growth and change can make entry seem challenging or risky. However, there are methods and best practices a financial institution can follow to reduce any headache associated with the potential value cannabis-related businesses (CRBs) offer. For financial institutions, that means a focus on due diligence, risk assessment, licensing, compliance, and tax law, among other things. Wolf experts explain what banks should be looking for.
Takeaways for financial institutions:
• What risks do CRBs pose to financial institutions?
• What should onboarding a CRB customer look like?
• What types of due diligence are necessary when it comes to CRBs?
• How does Section 280E affect CRBs and financial institutions?
• How can financial institutions evaluate a CRB’s controls, licensing, and risk program?