ACCCE On Demand – ACAMS Colorado Chapter – An Update to Cannabis Banking – The Evolution of Lending
Available On Demand
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Financial Institutions (“FIs”) have been offering depository services to the cannabis industry since 1996 and according to FinCEN there are 706 FIs currently filing SARs on customers/members as of June 2022. However, the cannabis industry has had to seek financing from non-traditional avenues of capital for their financing needs since 1996: personal investment, family, friends, hard money lenders, equity investments, and/or capital improvements via net profits. The presentation will have an overview of banking cannabis and explore the requirements for FIs to compliantly lend to the cannabis industry.
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ACCCE On Demand - ACAMS Colorado Chapter - An Update to Cannabis Banking – The Evolution of Lending
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