Cannabis Banking in Maryland: Market Overview and Fundamentals

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This Election Day, Maryland voted to legalize adult-use marijuana, four years after approving the legalization of medical marijuana. MJBizDaily estimates the adult-use market in Maryland would generate $550 million to $600 million in its first year and could generate up to $1 billion in its fourth year. With that, medical sales alone as of October 2022 reached over $38 million dollars with 2022 YTD sales of over $428 million.

Accordingly, on Tuesday, January 24th,  at 1 pm EST, Green Check Verified will present “Cannabis Banking in Maryland: Market Overview and Fundamentals,” a complimentary, 90-minute virtual presentation that arms Maryland banking professionals with the knowledge they need to engage with the legal cannabis industry in Maryland.  

Taught by Green Check Verified subject matter experts — with experience building and scaling cannabis lines of business with over 100 U.S. financial institutions —this two-part 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 Maryland
• 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 Maryland

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

‍Takeaways

• Copies of all presentation materials
• A cannabis banking policy template
• A copy of the 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