Banks do not advertise their cannabis services for many reasons. One reason is that many bankers believe that they cannot offer services because the money comes from an industry that is not federally legal. This is not accurate.
FinCen is the official source for Treasury Department guidance. However, compliance officers see the due diligence required and it seems onerous.
What cannabis compliance officers know is that they have similar onerous requirements.
What is the solution?
Face to face interaction between your legal entity's compliance officer and the bank's compliance officer.
It's time for banking to be personal again.
Mission statements – Martina Jaccarino spent 20 years in main stream law firms before she entered the cannabis space. It is her mission to bring cannabis and mainstream industry together.
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