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HIGH Fees + HIGH Revenue = HIGH Risk.
With half of the states legalizing the use of marijuana to some degree, is it time for your institution to take advantage of the high fees that can be charged for banking Marijuana Related Businesses (MRBs) operating in or near your state? Largely because the federal prohibitions on the cultivation, distribution, sale and use of marijuana have not been relaxed, the potential high fees and revenue that can be gained from banking marijuana related businesses must be weighed against the high risk inherent in walking the fine line between state regulation and federal prohibition.
Cash-intensive Marijuana Related Businesses need banking relationships, but there are many factors to consider in deciding whether your institution will open its doors to this industry. As the marijuana landscape continues to GROW and gain much notoriety, half the states have accepted the use of marijuana to some extent. State requirements vary widely, but still contradict federal law, and federal banking regulators continue to raise the bar when it comes to banking all high risk clients, including MRBs. HIGH fees for banking MRBs lead to HIGH revenue; however, these high- risk accounts still may not be worth banking. Proper due diligence is essential when banking MRBs. The question is -- how much due diligence is enough to satisfy regulators and law enforcement?
Please join Victor as he discusses the HIGHS of banking MRBs, including the latest regulatory measures being undertaken to further foster banking marijuana related businesses, and some best practices.
This presentation will cover:
- Types of MRBs
- Differences among state marijuana licenses
- Requirements for banking MRBs
- Marijuana Businesses Access to Banking Act of 2015
- Banks specializing in MRBs
- Due diligence best-practices for banking MRBs
- Cost-benefit analysis for banking MRBs
- and much more
Banking Marijuana-related Businesses
Questions and Answers
RELATED PRODUCT: Marijuana-Related Business Policy Template