10 October 2016
“According to the Associated Press (AP), more than 300 banks and credit unions in the United States now handle marijuana money. This is almost a 500% increase from early 2014. For banks or credit unions considering entering this space, the concept of compliance can be overwhelming.”
Here’s the Table of Contents
- Banking Marijuana 3
- Who Banks Marijuana? 3
- Application Processing, Screening & Acceptance 5
- Account Setup & Reporting 6
- Routine Compliance Monitoring 7
- Secure Cash Management & Deposit Verification 8
- On-going Due Diligence & Compliance Training 9
- Marijuana Banking Software? 10
- Hope for the Immediate Future? 11
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They have also published the following, which may be of interest
About California’s New Marijuana Regulatory Environment
Originally posted on NewCannabisVentures.com https://www.newcannabisventures.com/understanding-new-california-medical-cannabis-regulatory-environment/
As California evolves from a largely unregulated market to a state- and local-regulated medical marijuana framework, it should prove to be one of the most complex and comprehensive medical marijuana markets in the United States. Below is a summary of the breadth and depth of the upcoming regulatory environment for California’s medical marijuana program, better known as MMRSA.
Top 5 Compliance Infractions: Colorado Medical and Recreational Infused Product Manufacturers
Editor’s Note: This is the third in a three-part series on top regulatory compliance infractions for medical and recreational retailers, manufacturers and cultivators in Colorado. See here for the first part on Retailers, and here for the second part on Cultivators.
The Cannabis Industry is one of the most highly regulated industries in the world, on par with financial services, pharmaceuticals, gaming and health care with regard to the depth and complexity of the regulatory framework.
Not only are cannabis businesses subject to state licensing and regulatory requirements, they must also adhere to city, county, and federal (yes, federal) regulations and authorities as well: A highly complex endeavor that is subject to many pitfalls.
WHITE PAPER: HOW TO BANK MARIJUANA