Gain a better understanding of federal and state laws governing this exploding industry.
It is almost unheard that a literally brand-new industry is created. But that is the reality that America's bankers face with the new industrial hemp industry. There are now many types of hemp-related businesses and all of them could benefit from access to the nation's financial infrastructure. At the same time, bankers see a new class of customers for their accounts, lending and treasury management services. This topic will provide bankers with a working understanding of the federal and state laws governing this exploding industry, including the flourishing hemp-derived CBD market, and will venture forecasts for future legal and regulatory developments that could affect the industry. Further, the specifics of banking this new industry will be covered. We begin with the banking laws and regulations at play when on-boarding new hemp-related business accounts, including the Bank Secrecy Act. Making loans to hemp-related businesses have their own issues and will be explored. Last, attention will be given to the bank's treasury management service offerings, including the currently problematic area of credit card acceptance by certain CBD retail merchants.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
A New Industry Is Born: What Is the Industrial Hemp Industry and How Was It Created
- Focus on Current Federal Law
- Focus on Sundry States' Laws and Licensing
- Discussion of Important Unresolved Legal and Regulatory Issues Facing This Industry
Banking the Hemp-Related Business
- Depository Account Relationships
- The Bank Secrecy Act
- OnBoarding New Commercial Accounts
- Lending Relationships
- Credit Risk Overview
- Collateral Issues
- Workout Concerns
- Treasury Management Services
- Credit Card Acceptance and Acquiring
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 2, 2019.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Nolan M. Jackson
Frost Brown Todd LLC
- Attorney with the law firm of Frost Brown Todd LLC
- Practices in the business litigation practice group
- Practice interests include appellate; commercial litigation; issue advocacy and public affairs; mass torts and products liability litigation; sports law; and white-collar crime
- Interned for the Attorney General of Kentucky in the Consumer Protection Division, and in a western Kentucky trial office of the Kentucky Department of Public Advocacy
- J.D. degree, University of Kentucky College of Law; B.A. degree, magna cum laude, University of Kentucky
- Can be contacted at 859-244-3202 or [email protected]
William "Bill" Repasky
Frost Brown Todd LLP
- Member with the law firm of Frost Brown Todd LLC
- Prior to joining the firm, served as in-house counsel for one of the nation’s largest banks and also for a leading credit card processing company
- Background in banking compliance and litigation was fortuitous, as he practices law in Kentucky, which is currently the leading state in the country in growing hemp and in promoting the industrial hemp industry
- Frequent author and speaker on banking law matters, including those concerning hemp-related businesses
- J.D. degree, Vanderbilt University; B.A. degree, University of Michigan
- Can be contacted at 502-779-8184 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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