Thursday, July 18, 2019 12 PM ET | 60 Minutes
It’s hard to ignore the buzz around the emerging cannabis industry. Legal in 33 states and counting, this $13+b industry is of particular interest to banks and credit unions looking for low cost deposit growth, increased fee revenue, and strong commercial partnerships with local small business owners.
Virtually every board meeting, conference, and publication, has a “cannabis banking” focus, but few outlets offer a pragmatic approach to mitigating the risks involved with serving the cannabis industry. Weighing the need to withstand examiner scrutiny against the desire to build a profitable cannabis banking program may seem daunting, but through proper planning, the right partner, and a purpose-built system to mitigate risks, cannabis banking can become a reality for your institution.
Learn how to:
• Create a strategy to develop a successful program
• Build a business case to get key stakeholder approval
• Establish a framework for building the program
This is the first part of a three part series.