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This June, Chris Van Dyck from Cogent Law will present at a Maine Credit Union League Town Hall on cannabis and hemp banking. There have been significant developments on the federal level regarding how these industries are now treated, and they have implications for credit unions that are already in this space or considering getting into this space. Van Dyck will also discuss bills that have been considered this year by the Maine Legislature that have impacted the cannabis industry.
About Chris Van Dyck:
Chris Van Dyck has been involved in the cannabis banking space for over ten years, first as a financial regulatory attorney and then as general counsel, Chief Risk Officer, and BSA Officer at a financial institution. During his time as a regulatory attorney, he worked closely with financial institutions regulated by his office on compliance issues, including cannabis banking when the FinCEN guidance was issued in 2014.
For ten years, he focused his attention on developing one of the nation’s first cannabis banking programs. During his tenure, the cannabis banking program at his credit union grew extensively and became a significant revenue source.
Van Dyck advises numerous financial institutions across the country on cannabis banking. Because of his extensive experience, Van Dyck is uniquely qualified to advise your financial institution on starting and expanding its own successful cannabis banking program. He works with credit unions to manage the risks associated with these accounts, develop policies and procedures aligned with the 2014 FinCEN guidance, and implement those policies effectively. He also drafts depository account agreements and lending covenants designed to protect a financial institution’s interests.
Van Dyck is also able to advise on practical ways your financial institution will be able to gain traction in this sector, maintaining and growing your customer base, while generating significant revenue.
Lauren Simonds has shared a Teams meeting invitation for this Town Hall. If you have not been receiving meeting invitations for Town Halls and would like to add your name to the distribution list and/or attend this meeting, please email Simonds at lsimonds@mainecul.org.