Payments & Lending in the Cannabis Space – Challenges and Solutions

Thursday, October 27, 2022 12:30 PM EST | 90 Minutes

This session is completed. If you would like to inquire about accessing a recording, please fill out the form on this page.

This 90-minute webinar will cover what’s happening in the cannabis banking, lending, and payments space. Joined by our partners at Nelson-Mullins and Assureg, this panel discussion will highlight topics like cashless ATMs, alternative payment methods, collateralizing loans to cannabis businesses and their employees, and the potential impact that the current federal marijuana legalization bills would have in these areas. 

We will discuss risk mitigation strategies and what we’ve seen in the field.

Payment Processing for Cannabis Businesses (40 minutes)

  • Can financial institutions offer debit cards to cannabis business customers/members?
  • What do we know about cashless ATMs?
  • What bankers need to know about alternative “credit cards” 
  • Alternatives to the big credit card companies that prohibit the use of their networks for the purchase of cannabis
  • How cryptocurrency is being positioned as a solution to the payments problem
  • What effect would the passage of any federal cannabis legalization bills have on the payments space?

Lending to Cannabis Businesses (40 minutes)

  • Are FIs offering loans to cannabis businesses and/or their employees?
  • How can a financial institution collateralize a loan to a CRB?
  • Mortgage lending to employees of cannabis businesses

Q&A (10 minutes)

Takeaways

  • Copies of all presentation materials
  • Access to a recording of session

Audience

  • Board members
  • CEO
  • CFO
  • Compliance and risk officers
  • Branch operations managers
  • Business development teams
  • Lending officers
  • Marketing and communications teams
MEET OUR

Presenters

Paul Dunford

Co-Founder and VP of Knowledge, Green Check

Paul is a co-founder of Green Check Verified, where he is the VP of Knowledge. Paul oversees the development and management of compliance programs for Green Check Verified’s clients, with a focus on state-level compliance as well as compliance around federal guidance.

Stacy Litke

VP, Banking Programs, Green Check

Stacy Litke is VP of Banking Programs at Green Check Verified with decades of experience in the financial services industry.  Time spent in retail, lending, operations, and technology — and from the seats of a community banker, fintech executive, and consultant — has provided Stacy with a comprehensive view of the industry.  Prior to joining Green Check, Stacy was SVP of Operations for a Massachusetts-based, $900 million institution.  Today, she uses her collective experience to help financial institutions with compliant cannabis banking programs.