The U.S. cannabis market is poised for substantial growth, with projections from New Frontier Data estimating it to reach $72 billion annually by 2030. This growth is primarily driven by the legalization of adult-use cannabis programs in 21 states. However, while the legal cannabis industry offers significant growth potential, it also poses challenging operational demands and intricate regulations that must be navigated carefully.
Fortunately, a playbook exists which can help bankers make informed decisions about serving this industry, create a compliant operational structure, and benefit from the financial rewards of this market. As more states pass legalization bills and Congress gets closer to approving cannabis reform legislation, this is a critical time for bankers to learn about the market opportunity and take steps to gain a first-mover advantage.
To help bankers deepen their knowledge of this emerging industry, this webinar will:
• Provide an overview of the cannabis banking market opportunity and how it can fit into a bank’s long-term growth strategy.
• Educate participants about state and federal cannabis law, compliance and regulatory requirements, and risk management best practices.
• Demonstrate how harnessing data and technology to reduce costs and improve compliance outcomes can set banks up for success in an increasingly competitive environment.
Tony Repanich, President and CEO of Shield Compliance
As president and CEO of Shield Compliance, Tony Repanich leads day-to-day operations and serves as the company’s principal product architect. Having served as a senior executive at a Washington state-based community bank for over 20 years, Tony has in-depth knowledge of the banking industry and banking requirements for high-risk industries. Today he brings that knowledge to financial institutions serving and considering serving the legal cannabis industry.
Recorded on Tue, Mar 21, 2023 2:00 PM – 3:00 PM EDT