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(In-Person & Online) Why Marijuana Retailers Can't Use Banks
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When: 02/28/2018
12:00 PM
Where: FIBA Training Room
80 SW 8th Street
Suite 2170
Miami, Florida  33131
United States
Contact: William Ramos

Online registration is closed.
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Banking marijuana related businesses (MRBs) is a daunting and often risky endeavor. Federal, state and local cannabis legislation is constantly changing and more often than not, they are in conflict with each other. According to a recent FinCEN report, only about 400 banks out of more than 13,000 currently serve MRBS—and that’s up from 301 banks and credit unions two years ago. Now with the “Cole Memo” rescinded by U.S. Attorney General Jeff Sessions, this budding industry and the regulatory landscape are as complex and confusing as ever.


How should the banking industry proceed in order to be ready to perform required due diligence and remain compliant with BSA laws and expectations? What should your bank's policy be regarding funds from MRBs? How should you deal with the conflicts between state and federal laws?


Join us for this candid and informative in-person and livestreamed event as our panel of experts sheds light on an industry that has the potential to leave your institution vulnerable.


The panel will also provide guidance on what your bank should do under the following scenarios:

- A customer is a cannabis retailer
- A loan customer that is a cannabis retailer/ producer/distributor
- Deposits or rent to customer that is a landlord to a retail center that includes MRB
- Deposit or deposit customer that is a vendor/supplier to a cannabis retailer/producer/distributor
- Loan Customer that is a vendor/supplier to a cannabis retailer/producer/distributor

- Daniel Gutierrez, Vice President & Regulatory Risk Manager, Ocean Bank and Chair of FIBA's AML Committee

- Walter J. Mix III, Managing Director and Financial Services Practice Group Leader of Berkeley Research Group (BRG)
- Mark Gillett, Senior Vice President and General Counsel, CTBC Bank
- Michael Mancusi, Partner at Arnold Porter, Kaye Scholer


Can't join us in-person? Register for the livestream of this webinar: