Skip to Content

Now Live! We’ve launched a new connected card experience to help you manage your cards and financial future. Access Manage My Cards in our Mobile Money app! Check out a tutorial here.

Industry News

How Banks Can Approach Cannabis Compliance

Featuring comment from CFG Bank. Read the full article in Independent Banker.

If a community bank is going to serve the cannabis industry, it’s imperative to not only have the board’s complete support but also their willingness to understand the significant legal, operational, reputational and regulatory risk exposure, says Laura Benson, vice president, BSA officer – cannabis at $3.8 billion-asset CFG Bank based in Baltimore.

“The board needs to also understand there will be increased scrutiny by the regulators and there will be many questions directed at them,” Benson says. “All facets of the cannabis industry need to be fully understood so the bank can take the appropriate steps to craft policies and procedures to bank this industry.”

Read more in Independent Banker.

Notice: You are about to leave CFG Bank's website. If you do not wish to leave, please click "Cancel." If you'd like to continue, please click "Continue."