Release Date: November 23, 2020
Duration: 60 minutes
Combined with other changes, including medical cannabis, we now have twenty-nine states offering some type of legal or decriminalized cannabis policies. These voter approved initiatives have established a new industry, legal within a state, but still illegal at the federal level. Now financial institutions need to make decisions on how to address this in their policies. This is not only related to banking a cannabis related business, but what about employees of that business, who may also be accountholders? Join WesPay to better understand why it is important for you to have a policy around banking this industry, even if you have no intention of promoting the business.
MEET THE PRESENTER
Alan Hanson is a lawyer and the recognized cannabis credit union expert with Gleam Law. His banking practice focuses on developing cannabis and hemp credit union divisions across many states. Prior to entering private practice he spent 17 years as the General Counsel and Compliance Officer for Maps Credit Union. At Maps, he created and managed the first fully compliant cannabis credit union division in Oregon. This program remains the largest, most successful cannabis credit union division in the state. Additionally, it is used by the state credit union regulators as the example of how to properly operate a legal marijuana-related business banking program. Alan has extensive knowledge on cannabis banking and credit union compliance requirements along with the operational challenges to serve cannabis-related businesses.
Jim Petkovits is Vice President of Education for WesPay and has over 18 years of payments experience. Jim is responsible for developing and providing a large variety of education and training. Prior to joining WesPay, Jim was the ACH Education and Training Manager for the Northwest Clearing House Association (NWCHA) since 2001, and a Customer Service Manager for Bank of America’s ACH Regional Processing Center in Seattle. Jim holds both an Accredited ACH Professional (AAP) and National Check Professional (NCP) accreditation.