Rescheduling Cannabis is Back on the Table
Earlier in August, President Trump announced that his Administration was considering moving ahead with re-classifying cannabis from Schedule 1 to Schedule 3 of the Controlled Substances Act. While many questions remain regarding if, when, and how this would take place, it is crucial for financial institutions to know what this will mean for their cannabis banking programs, and what ramifications this may have for financial institutions in, or considering, cannabis lending.
Event Description
Earlier in August, President Trump announced that his Administration was considering moving ahead with re-classifying cannabis from Schedule 1 to Schedule 3 of the Controlled Substances Act. While many questions remain regarding if, when, and how this would take place, it is crucial for financial institutions to know what this will mean for their cannabis banking programs, and what ramifications this may have for financial institutions in, or considering, cannabis lending.
AGENDA
● What does reclassifying cannabis mean from a legal perspective?
● Cannabis would no longer be subject to 280E of the federal tax code. What does this mean?
● Would a financial institution’s BSA/Compliance requirements change?
Takeaways
● Understanding what this means for your CRB program from a compliance perspective
● Comprehending how this impacts passage of the SAFER Banking Act
● Ways to communicate this change to your CRB customers or members
BONUS Material
● Communique to your CRB’s about what rescheduling means from a banking perspective
Are you interested in more than one of our webinars? Consider a membership to maximize your benefits and education with the ACB. For one flat price, you get year-long access to our full content library AND our Fundamental + Advanced Cannabis Banking Professional Professional Certifications!