Cannabis Considerations for Community Financial Institutions: Rules, Requirements & Best Practices
July 9, 2026
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Although marijuana remains a Schedule I substance federally, forty-three states have now legalized either medical marijuana, recreational marijuana, or both, and even more states are poised to pass legislation soon. This has opened an entirely new, booming industry, packed with businesses who need deposit accounts, loans, and other financial products. And..boards and management teams who once were a firm “No!” when it came to these relationships, are now open to the possibility.
Could a cannabis business open an account or borrow from your financial institution? Or does confusion remain regarding the difference between marijuana- and hemp-related laws. Where do you start? What are the risks? What due diligence is required? What about all the cash transactions, CTRs, and SARs? What reporting is expected? This timely session will address these questions, differentiate between marijuana-related and hemp-related laws, and map out the landmines. Learn the facts so you can make an informed decision about whether to serve these businesses. Join us as we take the stigma out of banking cannabis-related businesses, and help you prepare your policies, procedures and best practices.
Learning Objectives:
· Differentiate marijuana-related, hemp-related and CBD businesses
· Explain federal regulation and state statutes to your Board and Management team to support their decisions about banking cannabis-related businesses
· Understand FinCEN’s guidance for conducting due diligence for cannabis-related businesses
· Ask the right questions at account opening to avoid “discovering” a cannabis business after the fact
· Update your BSA compliance program, including risk assessment, monitoring procedures and training
· Address concerns lenders have in regard to the unique nature of collateral for cannabis-related businesses
This informative session is designed for branch managers, loan managers, BSA Officers, Compliance Officers, and senior management.
Presenters:
Dawn Kincaid
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized the implementation of new products and services.
July 9, 2026