Cannabis in 2020
Forbes recently published an estimate that legal cannabis sales will reach nearly $30 billion in 2025. In states where recreational marijuana use is now legal, billboards for dispensaries line freeways and state coffers swell with increased tax revenue.
All the lucrative cannabis-related businesses (CRBs) need a place to store their massive amounts of cash. They are looking for banks and credit unions to provide comprehensive financial services.
The cannabis banking sector has evolved over the last year. You can learn from the legislative action and procedural shifts of 2019 to position your institution to offer services to this growing market in 2020.
- Is your financial institution ready to bank cannabis?
- Where should you start when building your cannabis banking program?
- How can you get stakeholder buy-in?
- What should your CRB policy include?
- What are the most important aspects to monitor?
- What is the current legislative landscape for banking cannabis?
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