Description
Gain a better understanding of federal and state laws governing this exploding industry.It is almost unheard that a literally brandnew industry is created. But that is the reality that America’s bankers face with the new industrial hemp industry. There are now many types of hemprelated businesses and all of them could benefit from access to the nation’s financial infrastructure. At the same time, bankers see a new class of customers for their accounts, lending and treasury management services. This topic will provide bankers with a working understanding of the federal and state laws governing this exploding industry, including the flourishing hempderived CBD market, and will venture forecasts for future legal and regulatory developments that could affect the industry. Further, the specifics of banking this new industry will be covered. We begin with the banking laws and regulations at play when onboarding new hemprelated business accounts, including the Bank Secrecy Act. Making loans to hemprelated businesses have their own issues and will be explored. Last, attention will be given to the bank’s treasury management service offerings, including the currently problematic area of credit card acceptance by certain CBD retail merchants.
Date: 2019-12-02 Start Time: End Time:
Learning Objectives