Seed to Sale: Banking Hemp, CBD and Hemp-Related Businesses with Case Study

Wednesday, April 21, 2021
12:00 – 1:30 pm (Eastern Time)

With an industry that is projected to be worth $20 billion by 2022, interest in hemp is at an all-time high. But for banks considering or entering the space, banking hemp related businesses can be a daunting task. The new industrial hemp marketplace involves much more than simply banking farmers. It involves businesses involved in transportation, warehousing, processing, manufacturing, distribution, and wholesale and retail sales. And despite their federally legal status, hemp-CBD production is surrounded by a large gray area. States are taking individual--and sometimes drastically different-- approaches to regulation. This patchwork of state and federal regulations further complicate banks’ understanding of the regulatory and compliance requirements for banking CBD and hemp-related businesses.  

Bankers know that expertise and practical advice, and know-how are critical to your program’s success. In this 90-minute webinar, we’ll be joined by expert regulatory counsel, Dena Somers, and experienced hemp banker, Allison Feldbruegge of Bank of Sun Prairie, to discuss the latest developments on banking HRBs, including the risks, legal requirements, and challenges associated with various hemp businesses. 

This timely compliance webinar will cover the key points of providing account relationships, loan products and treasury management services to hemp-related businesses. Attendees are provided expert guidance on building an effective compliance framework for banking HRBs.

Topics include:

• Navigating the patchwork of state and federal regulations
• The FDA’s role in hemp-CBD
• Comprehensive review of the state regulatory and USDA framework for permitting, testing, and disposal requirements
• CBD in food, beverages, vape cartridges, oils, topicals, and other products
• NCUA and Agency guidance on due diligence and banking hemp businesses
• CBD legality, THC testing and more
• Best practices and potential pitfalls of hemp and CBD banking
• The steps to building, testing, and implementing an effective hemp banking program
• How to adapt ongoing due diligence and reporting approaches to risk specific to HRBs
• Clarity around what we know and what remains to be seen

BONUS MATERIAL:
Attendees will receive a hemp banking policy and program checklist to benchmark or help develop your compliant, Hemp and CBD banking program!

Instructor

Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance.

Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by BankersHUB

If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.