Bankers Compliance Group | The Banking Community's Foremost Resource For Legal Services | BCG
HOME   |   CONTACT   |   LOGIN   |   REGISTER
 
 
bank sign loan application credit union shaking hands business lecture
Today is: April 9, 2020  
 

 

Upcoming BCG Webinars

BCG Webinars are an optional resource offered once a month over the Web. Topics include Levies and Executions, New Accounts Documentation, Flood Insurance and Doing Business with Family Trusts. Additional Webinars will be posted below as their respective dates approach. To view past Webinar schedules and descriptions, click here or contact us if you have additional questions.  To order past Webinar CD's, click here.

Upcoming BCG Webinars        

  

 

Providing Financial Services to Hemp and Marijuana-Related Businesses

Thursday, April 16, 2020

10:00 - 11:30 a.m.

 

Even though California has relaxed its laws with regard to the sale and usage of medical and recreational marijuana, the growing, usage and sale of marijuana remains illegal under federal law. Even financial institutions not providing financial services directly to marijuana-related businesses (MRBs) are affected to the extent these institutions provide services to non -MRB businesses which are in turn doing business with MRBs. To complicate matters, while hemp is no longer considered illegal as a Schedule 1 controlled substance due to the 2018 Farm Bill, the cultivation of hemp in California remains subject to regulatory oversight by California and, to an extent, the USDA.

Financial institutions are already seeing an increase in the number of MRBs as well as hemp businesses seeking financial services. There has also been an increase in disguised attempts by MRBs to obtain financial services, including by falsely claiming that their businesses are only involved with legalized hemp.

Join us for this Webinar as we discuss in detail the customer due diligence expectations and the potential risks to financial institutions in providing banking services to the hemp and marijuana industry. We will also provide some insights on navigating the regulatory licensing requirements for MRBs through the California Bureau of Cannabis Control.

 

 

 

 

 
 
 
 
 
 
 

 

 

 

California Unclaimed Property Law

Thursday, May 7, 2020

10:00 - 11:30 a.m.

 

California’s Unclaimed Property Law requires financial institutions to follow a two-step reporting process for unclaimed property. The Holder Notice Report is due annually by November 1st and includes a complete listing of a holder’s unclaimed property that is currently reportable. The property will not be remitted until the separate Holder Remit Report is filed the following year in June. We will discuss practice tips and reminders from the California State Controller’s Office to ensure your reports are approved and to avoid future interest assessments. The presentation will also outline the timelines for the escheat of deposit accounts, safe deposit box contents and financial institution-issued instruments. We also will address the legal notices required to be provided to customers at account opening and again prior to the reporting process.

 

 

 

 

 

 
 
 
 
 
 
 

 

 

 

 

 

| Home | Contact | Sitemap | Disclaimer |
Copyright © 2020 Aldrich & Bonnefin, PLC - All Rights Reserved