Cannabis Banking in Connecticut: Market Overview and Fundamentals

WEBINAR

Wednesday, October 12, 2022 9:30 AM EST | 90 Minutes

Adult-use cannabis sales are quickly approaching in the Constitution state. With this in mind, how can financial institutions use this opportunity to work safely and profitably within the up-and-coming industry?

Adult-use sales are expected to hit $250 million in the first year of the program, and medical sales are expected to surpass $210 million as well. As part of this, not only are a new wave of direct plant-touching businesses popping up, but a vast industry of indirect and ancillary businesses are gearing up to support them.

On October 12, 2022, from 9:30 am to 11:00 am, Green Check Verified, in association with Connecticut Bankers Association, will present “Cannabis Banking in Connecticut: Market Overview and Fundamentals” a virtual presentation and panel discussion that arms Connecticut bank professionals with the knowledge they need to engage with the legal cannabis industry in Connecticut.

Presented by Green Check Verified subject matter experts — with experience building and scaling cannabis lines of business with over 100 U.S. financial institutions —this educational event covers the following topics:

Session 1: The Fundamentals of Cannabis Banking 

  • Essential terminology: cannabis/marijuana/hemp, THC/CBD
  • The cannabis market opportunity in the US
  • The cannabis market opportunity in Connecticut
  • Defining cannabis businesses and identifying their needs
  • Federal and state cannabis law, guidance, and regulations
  • FinCEN’s 2014 marijuana banking guidance: what you need to know
  • Locating and onboarding cannabis businesses
  • Ongoing monitoring and working with your examiner
  • Case Study: Quantifying Risks and Rewards – Financial Modeling and Risk Assessment Exercise.

Session 2: Special Considerations in Connecticut

The Connecticut legal cannabis industry comes with its own particular challenges and opportunities.  In this session, we will explore the current state of the Connecticut cannabis market; where that market is headed; and what financial institutions in Connecticut need to understand to grow with this industry safely and effectively.

Q&A – Takeaways

  • Copies of all presentation materials
  • A cannabis banking policy template
  • A copy of a sample financial model
  • A copy of the sample risk assessment questions
  • 90-day access to a recording of both sessions

Audience

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

Presented By

Paul Dunford

Co-Founder and VP of Knowledge
Green Check Verified

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 Verified

Stacy Litke is a cannabis banking expert at Green Check Verified, who believes every cannabis business deserves the ability to bank confidently and every community bank deserves a chance to grow with that industry. Stacy has seen the financial services industry from multiple angles having experience in Retail, Lending, Operations and Technology, from the seats of Community Banker, FinTech Company and Consultant. Prior to joining Green Check, Stacy was SVP of Operations for a Massachusetts based, $900 million community bank.
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