Banking Cannabis; California’s Largest Cash Crop
Understanding cannabis banking regulations and reality with the General Counsel of DFPI, the former Commissioner of Banking at DFI (now DFPI), and a cannabis banker. This discussion will address the regulations, laws, and pending federal legislation that allows financial institutions to provide financial services to state-licensed cannabis businesses. Banking the state-legal cannabis industry is currently possible and profitable but requires rigorous compliance, Customer Due Diligence (CDD) and robust Know Your Customer (KYC) systems and processes.
Who Should Attend: C-Level Officers, General Counsel & Legal Professionals, BSA Officer, Compliance Professionals, Business Development & Relationship Banking Executives
- Discover the scale & impact of the cannabis economy and the banking challenges/difficulties cannabis-related businesses face
- Understand federal and state regulations governing cannabis banking and learn how to fulfill compliance obligations while mitigating risk
- Explore a cannabis banking case study; learn how a $100 million institution processed over $3 billion in cannabis transactions compliantly.
Teveia Barnes, Esq.
CA Department of Financial Institutions (DFI)
Teveia Barnes serves as the independent director on the board of StandardC, providing banking and data solutions in high risk industries, including cannabis-related businesses. Ms. Barnes also is a director and member of the Audit Committee of Climate Action Reserve. Prior to joining StandardC, Ms. Barnes served as Executive Director of the California Infrastructure and Economic Development Bank (IBank). Prior to IBank, Ms. Barnes served California as the Commissioner of the Department of Financial Institutions. Her legal career entailed her banking and finance practice as a partner at Foley & Lardner, LLP, and her service as Associate General Counsel and Senior Vice President of Bank of America. In addition, Teveia Barnes was a member of the U.S. Bank Advisory Board of Northern California. Ms. Barnes received her B.A. from Rice University and her J.D. from New York University School of Law.
CA Department of Financial Protection and Innovation (DFPI)
Brett Ladine was appointed by California Governor Gavin Newsom as General Counsel at the Department of Financial Protection and Innovation in June 2020 after serving as Assistant General Counsel since 2016. He provides legal and strategic advice related to the state’s regulation of financial institutions, financial services, and securities, with a focus on emerging policy issues. Previously, Ladine was a securities litigator at Hogan Lovells and Wilson Sonsini Goodrich & Rosati. Prior to becoming an attorney, he was the communications director for Congressman Dennis Cardoza. He received his J.D. from the University of Virginia School of Law and B.A. from Yale University.
Robert Baron, CAMS, CAMS-RM
Chief Experience Officer
Robert Baron serves as chief experience officer of StandardC, and oversees cannabis banking compliance and financial institution integration. Robert is a Certified Anti-Money Laundering Specialist (CAMS) and holds an advanced certification in AML Risk Management (CAMS-RM). Prior to joining StandardC, Mr. Baron was Senior Vice President of Member Services of Technicolor Federal Credit Union where he established and oversaw its cannabis banking program, including serving over 200 of the largest cannabis companies and processing over $3 billion in annual transactions. Mr. Baron received has a B.A. International Relations and a B.A. in Political Science from the University of California, Davis.
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Participants will earn 1.0 CPE credit
Field of Study: Specialized Knowledge
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
Refunds and Cancellations: Webinar registrations are non-refundable. If the registrant is unable to attend the designated time and date of the webinar, a playback link and any written materials will be provided within 2 business days following the conclusion of the webinar
Western Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:www.nasbaregistry.org.