Pub 8 2018-2019 Issue 1

6 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S A Word From CBA... CBA Hosting Marijuana and Banking Conference I n banking, one issue the marijuana industry generates is that there are more questions than answers. As marijua- na and hemp expand across the U.S., the clash of federal and state laws leaves banks with confusing and uncertain re- quirements and restrictions at best. Banks face many difficult issues around whether they try to keep marijuana funds out of the bank or they choose to accept marijuana deposits, yet they have no regulatory guidance. Frequently asked for guidance, the Colorado Bankers As- sociation decided to host this national conference in an effort to provide answers to many of the key questions. This program is designed to provide critical information to bankers interested in serving the burgeoningmarijuana indus- try or in avoiding banking it – and to public officials and other related parties who want to understand the issue. The Colorado Bankers Association, with significant issue experience since the 2012 vote and the January 1, 2014 inception of recreational marijuana, organized this program open to bank and specified other participants throughout the U.S. (explained below under Permitted Participants). The sponsors and this event take no position on legalization or use of marijuana. The conference addresses banking issues raised by the conflict of laws when states authorize medical or recreational use of marijuana or hemp and federal law still prohibits it. This program is intended to assist those in banking. We welcome bankers, directors, bank legal counsel and vendors to FDIC insured banks and those who assist banks to comply with the existing legal environment, or help banks avoid bank- ing Marijuana Related Businesses (MRBs). Interested public officials and/or their staff are welcome. The conference is not intended to provide guidance to MRBs in finding banking services, nor is the program appropriate for MRBs or vendors who advocate measures to evade federal law. To keep the dis- cussion focused on banking issues, the audience is confined to these groups. Program Content and Why You Should Attend: • The conference with a limited number of seats allows candid discussions since it is focused exclusively on banking. Marijuana Related Businesses (MRBs) are prohibited. • To assure privacy in comments/questions, the program will not be recorded. The sessions serve various kinds of banks: o Those opting to serve marijuana customers. o Banks wanting to keep marijuana business out of the bank. o Banks wanting to serve the hemp industry. The conference is comprehensive – covering: o Marijuana laws o Marijuana industry, products, employees, myths… o DoJ and FinCEN views o Congressional status and outlook on federal law o FDIC, Federal Reserve, OCC and state regulators’ perspectives o Assessments by experienced bank legal counsel o Advice from bankers currently serving marijuana related businesses and those trying to avoid banking MRBs o Q&A and discussion sessions o Other relevant content including public image and reputation risk, insurance issues, hemp, alternative banking solutions that don't work… • The program has been designed to allow use of same- day flights in/out of Denver International Airport and the dates also facilitate adding on a few more days in Colorado. To learn more and register, visit our website: www.colora- dobankers.org n Don Childears President and CEO Colorado Bankers Association