Most states have enacted some form of legislation to decriminalize or legalize the use of cannabis based products. However, marijuana (cannabis) remains illegal under federal law, specifically the Controlled Substances Act. The federal Farm Bill of 2018 legalized hemp (cannabis with low levels of THC) produced in accordance with the state/tribal law or a federal United States Department of Agriculture (USDA) plan. As the business of dealing in cannabis based products becomes more and more prevalent, financial institutions must determine if they will bank these customers and if so, how they will mitigate the inherent risk.
This Cannabis Related Business compliance management system includes tools to help you comply with requirements and mitigate risks associated with serving cannabis customers. Included is a Director/Senior Managment Update (DSMU), Policy Update, Procedures, Risk Assessment, Designation Form, Internal Checklist, and Business Checklist/Questionnaire. All forms are customizable.
Regular price for the Cannabis Related Business compliance management system if purchased separately woudl be $185. The entire CMS is available at $123.00, a 33% discount.