Open for Business: Navigating Legal Hurdles as Missouri Rolls Out Medical Marijuana
With medical marijuana rolling out this fall in Missouri, this emerging industry is likely to see a shift, as well as new challenges and opportunities, for banks as they navigate the regulatory landscape at the state and federal level. Paul Cambridge will discuss the status of the medical marijuana industry and how the industry may interact with financial institutions. He will provide updates with respect to marijuana-related business customers, including BSA/AML obligations, lending to direct and indirect MRBs, and hemp/CBD issues. He also will share examples of the hurdles facing banks today related to MRB customers and best practices to help overcome these hurdles.