news.cuna.org/articles/117166-new-eschool-provides-financial-services-education-on-cannabis-hemp-industries

New eSchool provides financial services education on cannabis, hemp industries

January 27, 2020

The House recently voted yes on the SAFE Banking Act, and is now on to the Senate to bring legal businesses out of the underground economy. This legislation and the ongoing legal uncertainty around serving Cannabis Related Businesses (CRBs) creates a need for credit union professionals to learn about the emerging cannabis and hemp industries along with the compliance oversight needed to serve CRBs.

The new CUNA Cannabis & Hemp Financial Services eSchool (recorded) is available now through June 1.

“Cannabis is an $8.3 billion industry forced to operate almost entirely in cash. This quickly expanding industry created a need for credit union professionals to understand the considerations and robust compliance protocols that need to be in place when serving CRBs,” said Melisa Kallestad, director of compliance & lending education at CUNA. “This program is designed to give professionals what they need to know to navigate risks and legal gray areas to keep everything policies and procedures current.”

This eSchool is led by financial services compliance experts and designed to inform credit union staff on the current state of the cannabis and hemp industries and provide guidance for business services in these industries.

Whether a credit union is currently serving, or not planning on serving CRBs, this educational series provides a beneficial update of the compliance landscape, terminology, operations and legal risks associated with cannabis and hemp business accounts.

Recorded webinar sessions include:

  • From A to CBD – The State of the Cannabis Market
  • The Latest Developments and Current State of Cannabis Regulations and Policy
  • The Cost and Manner of Providing Financial Services
  • Serving Cannabis Related Businesses (CRBs): The Law Enforcement Perspective
  • Implementing an Effective and Safe CRB Services Program

See session details and register here.