Fri Dec 10 CST (in 9 days)
In your timezone (EST): Fri Dec 10 2:00pm - Fri Dec 10 3:30pm
Lending to CRBs (cannabis related businesses) is filled with challenges due to RICO (don’t miss Session #1); in this session we will discuss issues related to direct loans to CRBs, participation loan risks and personal loans to CRB employees. We will cover how to best establish and defend a RICO “innocent lender” defense. In addition, we will highlight challenges with shared branching transactions: who is responsible for reporting questionable transactions under the Bank Secrecy and related laws. We will also dive into the complex area of insurance coverage, discussing your credit union’s coverages related to CRB services, landlord/tenant coverage issues, and other CRB business coverages. Finally, we will discuss the fast-growing area of cannabis services vendors, focusing upon what type of vendors may be able to provide assistance to your credit union and key areas to focus upon.
• Gain a practical understanding of key issues involved in lending to CRBs, shared branching transactions, and insurance coverage issues.
• Develop insights into what types of CRB vendors can assist your credit union and what red flags you should look for when choosing a vendor.
Who Should Attend
This webinar is beneficial for compliance staff, senior staff and operational staff.
Bruce A Pearson
Senior Partner, Styskal Wiese & Melchione LLP